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The US Trade Representative and Agriculture Secretary announced a WTO counter notification challenging India's market price support for wheat and rice. The notice was filed May 4, 2018, and says India substantially underreported its support.
The US calls for greater transparency and access for American farm products.
The challenge could push India to reform price support programs that influence its wheat and rice export capacity. Near-term grain price effects are limited.
farmprogress.comMay 10, 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.
