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The US filed a counter notification at the WTO Committee on Agriculture accusing India of underreporting its market price support for wheat and rice. Washington says India's support exceeds its allowable limits under WTO rules.
It is the first such notification the US has filed against another country's measures.
The dispute could pressure India to change its wheat and rice support policies, which affect export competitiveness. Price impact on world grain markets is uncertain for now.
fas.usda.govMay 9, 2018After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
After 70 past neutral trade events, Rough Rice moved a median +0.2% over 5 sessions (51% higher; middle half -1.3% to +1.9%), and +1.3% 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.
