India agrees to lift export ban from May

Between January and August, India’s coal shipments rose 10% y/y, driven by strong electricity demand, but hydropower recovery may reduce future coal demand.

The acquisition is subject to approval from the Commerce and Transport Department, Govt. of Odisha, and Adani expects it to be completed by Q1 FY25.

The ever-present topics of weather and geopolitics are playing out, with all benchmark wheat futures losing ground.

In two weeks, the US wheat market has traded down US$22/t, as reports of sluggish US exports, improving new crop prospects in some areas and talk of Ukrainian export corridors being set up weigh on prices.

The receding threat of a Russian invasion of Ukraine and talk of firmer US monetary policy has seen prices fall sharply over the last few sessions.

Global wheat markets remain starved of fresh bullish input as global concerns over the spread of the Omicron coronavirus variant keeps long-holders in liquidation mode.