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India raised its import duty on wheat to 40% from 30%, citing a large domestic winter crop and the election period. Australian analysts say the change will have little effect this season because India is not expected to buy much from Australia.
Higher Indian import duties reduce demand for imported wheat and weigh on world export prices, especially if the duty is kept high. The effect is smaller this season because India's domestic supply is large.
graincentral.comLiz WellsApr 29, 2019After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% 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.
