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The agriculture ministry's second advance estimate puts 2019-20 foodgrain output at a record 291.95 million tonnes. Wheat is forecast at 106.2 million tonnes and rice at 117.47 million tonnes, both higher than the previous year.
Record Indian wheat and rice output increases domestic supply and reduces import needs, which is bearish for world grain prices.
thehindu.comSpecial CorrespondentFeb 18, 2020After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 87 past bearish report events, Rough Rice moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
