China Buys Canadian, Australian Wheat Amidst Domestic Crop Failure
Facing a potential wheat shortfall due to a heatwave impacting Henan province, China recently purchased an estimated 400,000–500,000 metric tons of wheat from Australia and Canada. These purchases, including several large shipments of milling-quality wheat, mark a return to importing after a period of reduced purchases. The acquisitions are attributed to both weather concerns and attractive pricing, although the purchases may not signify a larger trend due to existing Chinese wheat inventories and slowing economic growth. The deals also included a significant amount of barley from France or Ukraine, a notable shift in grain procurement for China.
John Q. Hosedrinker