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India's Agriculture Minister asked state chief ministers to review measures for a possible monsoon failure. The IMD's first forecast projects rainfall at 96 percent of the long-period average for Kharif 2017, with an updated forecast due in June.
A risk of sub-par monsoon rainfall could cut kharif rice and pulse output and support Indian domestic prices, though the forecast is still preliminary.
india.comAbout the Author ANIMay 8, 2017After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
