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Soaring Chinese wheat purchases to lift global prices by 10 pct
date:Jul 25, 2013
prices.

We have excellent prices despite the fact that we have such a big crop coming in, said Stefan Meyer, a manager for cash markets at brokerage INTL FCStone in Sydney. We are trading on a positive basis as China has come in and bought wheat.

China is expected to take between 2 million and 3 million tonnes of Australian wheat this year, up from the 500,000 tonnes to 1 million tonnes it typically buys, forcing its traditional customers to seek alternative supplies.

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12/20 19:10