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A Reuters report says India has shelved a plan to raise its wheat import tariff to 40 per cent and will keep it at 20 per cent. Government sources expect imports to fill a domestic shortfall for a third straight year, with production estimates falling to 93-95 Mt.
Expected Indian wheat imports and low stocks support world wheat demand, which is supportive for Australian and other exporter prices.
graincentral.comLiz WellsMar 22, 2018After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% 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.
