The damage to the moong, urad, groundnut and soybean crops could range 10-15%, leading to concerns about a significant increase in prices of these commodities, they said. But the rains could help the paddy crop in Punjab and Haryana. “The excessive rainfall has caused damage to kharif crops such as cotton, pulses and oilseeds in the northern states,” said Rahul Chauhan of commodity research firm iGrain India.
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher following a weaker-than-expected jobs report which eased rate hike expectations. Nonfarm payrolls rose by only 29,000, significantly below economists’ forecasts of