Bearish
Wheat prices soften as India's flour-mill demand declines and global futures ease.
In the past 24 hours, wheat prices have declined due to reduced flour-mill demand in India and a slight easing in global futures. In Mumbai, wheat prices softened as flour mills decreased purchases and stockists increased sales, leading to a buyer's market. Internationally, Ukrainian and CBOT wheat quotations also drifted lower, providing buyers with more favorable conditions but squeezing farmers' margins.
Key points
- In Mumbai, wheat prices softened as flour mills decreased purchases and stockists increased sales, leading to a buyer's market.
- Internationally, Ukrainian and CBOT wheat quotations drifted lower, providing buyers with more favorable conditions but squeezing farmers' margins.
- Global wheat supply remains adequate, with improved harvest prospects in key exporters like Canada, Morocco, Russia, and Ukraine.
- Demand from flour mills and food-use channels appears cautious both in India and internationally, with feed demand providing a partial buffer.
Sources
AI-generated from public news sources. Not financial advice.
