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India's agriculture ministry forecasts record 2018-19 rice output of 115.6 million tonnes and wheat of 99.1 million tonnes. Coarse grain production is seen significantly lower, and total grain output will fall 2 million tonnes short of last year's record.
A record Indian rice crop adds to ample world rice supply and is bearish for rice prices. Lower coarse grain output could modestly support sorghum and corn demand from India.
world-grain.comArvin DonleyMar 13, 2019After 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.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
