In April/May, wheat harvests occur in the eastern part of the globe. India has banned wheat exports since 2022 in order to replenish domestic reserves. Subsidies for farmers have meant that the sowing area is larger than usual, which translates into quite high expectations when it comes to harvests. But as is often the case in life, things are not always as we plan. Adding to this the weather in the final period before harvest, I think that the harvest will be lower than expected, which will translate into an increase in price.
WHEAT is a difficult instrument to play, but I think that the area around 680 is achievable - long shot
WHEAT is a difficult instrument to play, but I think that the area around 680 is achievable - long shot
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.