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India's government is targeting record foodgrain output above 270 million tonnes for 2016-17 after two drought years, citing favorable weather and larger rabi sowing. Pulses output may exceed 20 million tonnes from 16.4 million.
Wheat sowing is up 7 percent from last year.
Expected record Indian harvests reduce future import demand for wheat and coarse grains, a bearish signal for global feed and food grain prices.
prelaunch.financialexpress.comSandip DasJan 17, 2017After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
