India’s wheat stocks hit 53.41 million tons on June 1, highest since 2021

India’s wheat inventories stood at 53.41 million tons on June 1, the highest level since 2021 and well above the government’s target. The government plans to stabilize prices by increasing open market sales. The development is directly tied to expectations for global wheat supply and could put short-term downward pressure on wheat futures and related agricultural commodities.