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Reuters reports India's 2019 wheat output could fall from a record crop this year because of scanty rains and higher temperatures in key growing areas. Farmers in Madhya Pradesh and nearby states planted less wheat and are short of irrigation water.
Analysts said the drop could raise local prices and prompt India to cut import taxes.
A lower Indian crop could cut export availability and raise import demand, which would support global wheat prices. Cutting Indian import duties would add further demand from the world's second-biggest producer.
business-standard.comReutersDec 3, 2018After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
