China plans to increase imports of wheat up to 4 million ton
due to the reduction of wheat yields in the Eastern regions of China and the deterioration of its quality due to excessive rain during the harvesting campaign, analysts of the Beijing branch of the USDA forecast an increase in the import of wheat into the country in the season 2016/17 MG to 4 million tons, 0.5 million tons exceeds the official USDA forecast and will become the third-largest figure for the last 20 years.
Nearly 8% of the Chinese harvest the wheat sprouted and spoiled I think, although last year the amount of such grain does not exceed 2.5%.
the Increase in imports of Chinese wheat buyers will try to compensate for the lack of corn. Grain that has long been kept in the state reserves are not suitable for use due to the high content of mycotoxins. And the world price of imported corn will be imported into the PRC for not more than 1 million tons of grain.
the Trading week in Chicago began with the fall, despite support prices news about the upcoming frosts in regions where they grow wheat.
Investors on Monday were speculative transactions and sales on the background of the dollar remains quite strong, even though we lost a 14-year high. Extra pressure on prices expectations of a good harvest in Argentina, where there are good weather conditions.
the March wheat prices have declined:
- 1.56 $/tonne to 148,81 $/tones of soft wheat SRW in Chicago
- 0.28 $/tonne to 152,12 $/tone for hard wheat HRW in Kansas city