Indian government is planning a price support scheme for paddy that it can’t afford.

Ram Gopal Yadav (6 years ago)

The government is reportedly set to announce an increase of ?200 per quintal in the minimum support price (MSP) for paddy. This is the single highest increase in the MSP for paddy in a given year in India, besting the ?155 hike by the Congress in 2008-09. It is about to announce an increase of ?200 per quintal in the minimum support price (MSP) for paddy, bringing the overall MSP to 1,750.

CBOT Wheat rises 1 pct after deep losses.

Ram Gopal Yadav (6 years ago)

Chicago wheat futures rose 1 percent as investors looked for bargains following deep losses in the previous session, although a lack of demand for U.S. shipments is expected to keep a lid on the market. The Chicago Board of Trade most-active wheat contract had risen 1 percent to $4.85-1/4 a bushel. There is limited downside risk to wheat prices when you look at the supply situation. But the focus seems to be demand, U.S. exports are not doing very well.