{"id":19445,"date":"2023-11-02T09:49:12","date_gmt":"2023-11-02T09:49:12","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19445"},"modified":"2023-11-02T09:49:14","modified_gmt":"2023-11-02T09:49:14","slug":"china-books-scoops-up-millions-of-tons-of-world-wheat","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/","title":{"rendered":"China books &amp; scoops up millions of tons of world wheat\u00a0"},"content":{"rendered":"\n<p>In anticipation of a wheat drought around the world, China has bought bulk wheat from Oceania, Europe and North America.<\/p>\n\n\n\n<p>This has happened after rain damaged around&nbsp;<a href=\"https:\/\/www.reuters.com\/markets\/commodities\/china-snaps-up-australian-french-wheat-crop-damage-spurs-buying-spree-2023-10-31\/\"><u>25 million tonnes&nbsp;<\/u><\/a>or 20% of the Far-east country\u2019s yearly wheat production.&nbsp;<\/p>\n\n\n\n<p>An<a href=\"#xj4y7vzkg\"><u>&nbsp;earlier report&nbsp;<\/u><\/a>had painted a bleak picture on the Chinese wheat fields when heavy rainfall decimated its 2023 crop.&nbsp;<\/p>\n\n\n\n<p>While Australia\u2019s wheat glut has attracted the most of bulk booking, the waiting list also includes Canada, the U.S. and France.<\/p>\n\n\n\n<p>&nbsp;The case of the United States is rare as China has not imported the grain from the U.S.,&nbsp;<a href=\"#:~:text=The%20U.S.%20Department%20of%20Agriculture,reporting%20system%20since%20July%202021.\"><u>since 2021.<\/u><\/a><\/p>\n\n\n\n<p>Here is a peek at the tonnage per country that China has already scooped up as it builds its 2024 reserves:<\/p>\n\n\n\n<ul>\n<li>2.5 million tonnes from France<\/li>\n\n\n\n<li><a href=\"https:\/\/www.reuters.com\/markets\/commodities\/china-snaps-up-australian-french-wheat-crop-damage-spurs-buying-spree-2023-10-31\/\"><u>2 million tonnes&nbsp;<\/u><\/a>from Australia<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-price-pressure-fuels-frantic-buying-by-china\"><strong>&nbsp;Price Pressure Fuels Frantic Buying by China<\/strong><strong><\/strong><\/h3>\n\n\n\n<p>The frantic purchases of wheat by China underscores the fact that the grain has had a few comebacks in 2023. For instance, there was a 2% increase in July to $5.91 a bushel (($0.22 per kg) after war stuck Ukraine\u2019s exports. Prices then fell by 5%, only to recover by October 5 on the news that Australia and South America faced drought.&nbsp;<\/p>\n\n\n\n<p>The early October price of&nbsp;<a href=\"https:\/\/www.selinawamucii.com\/news\/2023\/10\/06\/corn-and-soybean-prices-down-as-us-harvest-peaks\/\"><u>$5.63&nbsp;<\/u><\/a>per bushel ($0.21 a kg), an increase of 0.5%, was, however, short-lived. With the peak of the American fall harvest, new pressure on prices came up.&nbsp;<\/p>\n\n\n\n<p>The price has now lost 50% since the 2022 high of $13 a bushel, per the Chicago grain futures\u2019 benchmark.&nbsp;<\/p>\n\n\n\n<p>The most recent statistics show that the Chicago December wheat contracts fell to&nbsp;<a href=\"https:\/\/www.foodbusinessnews.net\/articles\/7-wheat-futures-tumble-to-contract-lows\"><u>$5.56<\/u><u><sup>1\/4<\/sup><\/u><u>&nbsp;<\/u><\/a>a bushel ($0.20 a kg) . This was on October 31, at the climax of the Kansas wheat harvest,<\/p>\n\n\n\n<p>In a word, world wheat prices are at a&nbsp;<a href=\"https:\/\/www.ft.com\/content\/efdebdea-fc8a-45ed-9c9f-dd5efe375183\"><u>36-month record low<\/u><\/a>.<\/p>\n\n\n\n<p>Thus, China is likely forward-buying to evade the future price trap once drought hits world-producing regions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-when-are-shipments-coming-to-china\"><strong>When are Shipments coming to China?<\/strong><strong><\/strong><\/h3>\n\n\n\n<p>China\u2019s forward buying of wheat will likely reach the country as follows:<\/p>\n\n\n\n<ul>\n<li>The Australian shipments will start trickling into the country by December, 2023.<\/li>\n\n\n\n<li>Shipments inbound from France, which China booked in September, will reach home by March, 2024.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Trade analysts also cite that overall purchases of wheat by China will hit 12 million tons by 2024. &nbsp;This will be 2.4 million tons more than the imports of 2022.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In anticipation of a wheat drought around the world, China has bought bulk wheat from Oceania, Europe and North America. This has happened after rain damaged around&nbsp;25 million tonnes&nbsp;or 20% of the Far-east country\u2019s yearly wheat production.&nbsp; An&nbsp;earlier report&nbsp;had painted a bleak picture on the Chinese wheat fields when heavy rainfall decimated its 2023 crop.&nbsp;&#8230;<\/p>\n","protected":false},"author":3,"featured_media":18204,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.3 (Yoast SEO v20.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China books &amp; scoops up millions of tons of world wheat\u00a0 - Selina Wamucii | Food &amp; Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China books &amp; scoops up millions of tons of world wheat\u00a0 - Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"og:description\" content=\"In anticipation of a wheat drought around the world, China has bought bulk wheat from Oceania, Europe and North America. This has happened after rain damaged around&nbsp;25 million tonnes&nbsp;or 20% of the Far-east country\u2019s yearly wheat production.&nbsp; An&nbsp;earlier report&nbsp;had painted a bleak picture on the Chinese wheat fields when heavy rainfall decimated its 2023 crop.&nbsp;...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/\" \/>\n<meta property=\"og:site_name\" content=\"Selina Wamucii | Food &amp; Agriculture News\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T09:49:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T09:49:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.selinawamucii.com\/news\/wp-content\/uploads\/2023\/04\/640px-01_Wheat_fields_Iran_4-e1680682780938.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"348\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Timothy Wahome\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Timothy Wahome\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/\",\"url\":\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/\",\"name\":\"China books &amp; scoops up millions of tons of world wheat\u00a0 - Selina Wamucii | Food &amp; Agriculture News\",\"isPartOf\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#website\"},\"datePublished\":\"2023-11-02T09:49:12+00:00\",\"dateModified\":\"2023-11-02T09:49:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.selinawamucii.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China books &amp; scoops up millions of tons of world wheat\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#website\",\"url\":\"https:\/\/www.selinawamucii.com\/news\/\",\"name\":\"Selina Wamucii | Food & Agriculture News\",\"description\":\"Discover the Latest in Food and Agriculture.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.selinawamucii.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8\",\"name\":\"Timothy Wahome\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g\",\"caption\":\"Timothy Wahome\"},\"url\":\"https:\/\/www.selinawamucii.com\/news\/author\/twt4wahomegmail-com\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"China books &amp; scoops up millions of tons of world wheat\u00a0 - Selina Wamucii | Food &amp; Agriculture News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/","og_locale":"en_US","og_type":"article","og_title":"China books &amp; scoops up millions of tons of world wheat\u00a0 - Selina Wamucii | Food &amp; Agriculture News","og_description":"In anticipation of a wheat drought around the world, China has bought bulk wheat from Oceania, Europe and North America. This has happened after rain damaged around&nbsp;25 million tonnes&nbsp;or 20% of the Far-east country\u2019s yearly wheat production.&nbsp; An&nbsp;earlier report&nbsp;had painted a bleak picture on the Chinese wheat fields when heavy rainfall decimated its 2023 crop.&nbsp;...","og_url":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/","og_site_name":"Selina Wamucii | Food &amp; Agriculture News","article_published_time":"2023-11-02T09:49:12+00:00","article_modified_time":"2023-11-02T09:49:14+00:00","og_image":[{"width":640,"height":348,"url":"https:\/\/www.selinawamucii.com\/news\/wp-content\/uploads\/2023\/04\/640px-01_Wheat_fields_Iran_4-e1680682780938.jpg","type":"image\/jpeg"}],"author":"Timothy Wahome","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Timothy Wahome","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/","url":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/","name":"China books &amp; scoops up millions of tons of world wheat\u00a0 - Selina Wamucii | Food &amp; Agriculture News","isPartOf":{"@id":"https:\/\/www.selinawamucii.com\/news\/#website"},"datePublished":"2023-11-02T09:49:12+00:00","dateModified":"2023-11-02T09:49:14+00:00","author":{"@id":"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8"},"breadcrumb":{"@id":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.selinawamucii.com\/news\/2023\/11\/02\/china-books-scoops-up-millions-of-tons-of-world-wheat\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.selinawamucii.com\/news\/"},{"@type":"ListItem","position":2,"name":"China books &amp; scoops up millions of tons of world wheat\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/www.selinawamucii.com\/news\/#website","url":"https:\/\/www.selinawamucii.com\/news\/","name":"Selina Wamucii | Food & Agriculture News","description":"Discover the Latest in Food and Agriculture.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.selinawamucii.com\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/8c0aad9a1f85037798080d75b4302cf8","name":"Timothy Wahome","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.selinawamucii.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/636da6c8288b7dcaef01a42b50c3bc41?s=96&d=mm&r=g","caption":"Timothy Wahome"},"url":"https:\/\/www.selinawamucii.com\/news\/author\/twt4wahomegmail-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/posts\/19445"}],"collection":[{"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/comments?post=19445"}],"version-history":[{"count":1,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/posts\/19445\/revisions"}],"predecessor-version":[{"id":19446,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/posts\/19445\/revisions\/19446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/media\/18204"}],"wp:attachment":[{"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/media?parent=19445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/categories?post=19445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.selinawamucii.com\/news\/wp-json\/wp\/v2\/tags?post=19445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}