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India's agriculture ministry estimated record foodgrain output of 279.5 million tonnes for 2017-18, up from 275.1 million a year earlier. Rice production rose to 111.5 million tonnes and wheat was roughly flat at 98.6 million tonnes.
The ministry also targets a record harvest for the coming year.
A larger Indian rice crop adds to ample domestic and export supplies, which tends to weigh on world rice prices. Wheat supply is steady, so its impact there is limited.
livemint.comSayantan BeraMay 16, 2018After 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.
