*Robust Procurement Pushes Wheat Stocks to 3-Year High* •According to the latest update from the Food Corporation of India (FCI), wheat stocks in the central pool as of May 1, 2025, stood at 356.72 lakh metric tonnes (LMT), a 37% increase compared to the same period last year. This level is not only the highest in the past three years but also exceeds both the 5-year and 10-year averages, reflecting a strong procurement season. The substantial rise in stock levels is largely attributed to robust procurement, particularly from Madhya Pradesh, which leads in stockholding, followed by Punjab and Haryana. This surge enhances supply-side confidence and may help stabilize domestic wheat markets in the near term.