India Says Untimely Rains May Not Affect Wheat Crop

India, the world's second-biggest wheat grower, doesn't expect last week's untimely rains to significantly affect its crop, Agriculture Secretary P.K. Mishra said.

The South Asian nation may be able to meet its 74.81 million metric tons of wheat production estimate this year, he told reporters in New Delhi today.

Rains and thunderstorms last week lashed northwestern India, the biggest producer of wheat in the country, according to the New Delhi-based India Meteorological Department. A shortfall in production may lead India to import wheat and undermine efforts to temper inflation, which is at a three-year high.

``There won't be any significant impact on the overall crop,'' Mishra said. ``We are still assessing the crop.''

Wheat futures in Chicago have more than doubled in the past year as adverse weather conditions curbed yields in some countries. Global inventories of the grain are expected to fall to their lowest in 30 years.

Wheat futures for July delivery fell 4 cents, or 0.4 percent to $9.875 a bushel in after-hours electronic trading on the Chicago Board of Trade at 7 p.m. Singapore time. The most-active contract reached a record $13.495 on Feb. 27 on speculation farmers wouldn't produce enough to meet global demand.