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India's agriculture ministry's second estimate puts 2016-17 foodgrain output at a record 271.98 million tonnes, with wheat at 96.64 million tonnes and rice at 108.86 million tonnes. Pulses output is also projected at a record 22.14 million tonnes.
Record Indian wheat and rice output reduces import needs and adds exportable supply, which is bearish for world wheat and rice prices.
thehindubusinessline.comFeb 15, 2017After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 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.
