China, the world’s biggest consumer of wheat, bought almost 1 million metric tons from the U.S. as prices slumped 30 percent from a four-year high reached in July, state-owned researcher said. Wheat jumped as much as 1.4 percent after the news. The country on April 4 ordered 14 to 16 cargoes of so- called soft red winter wheat to be shipped from the Gulf of Mexico in the second half, the Beijing-based researcher wrote in a report today. Panamax-sized vessels that carry wheat typically take cargoes weighing about 60,000 tons…Full-text article: BlackSeaGrain Apr 2013

Key point

  • According to a reported quoted in the article, the price of U.S. soft red winter wheat was quoted at US$325-330 per MT (C&F Chinese Port, April 5) or CNY2,430-2,470 per MT after tax. This is approximately CNY200 (US$32-33) more than Chinese-produced Jiangsu red wheat.

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