China Makes Large Wheat Purchase
Country has purchased 340,000 MT of US hard red winter wheat for delivery in the 2020-21 marketing year
The Agriculture Department reported last Friday that Chinese buyers have purchased 340,000 metric tons, or about 12.5 million bushels, of US hard red winter (HRW) wheat for delivery in the 2020-21 marketing year.
This is the largest purchase of wheat by Chinese buyers since the country implemented retaliatory tariffs on US wheat in March 2018.
With the Coronavirus pandemic adversely impacting domestic and international economies, China’s purchase of American wheat is welcome news.
The National Association of Wheat Growers (NAWG) President and Cass City, MI, wheat farmer Dave Milligan says the association hopes that this is just one of several steps towards implementation of Phase I of the new US-China trade deal.
"China is one of the largest buyers of U.S. wheat," says Milligan. "We hope that the new U.S.-China trade deal will restore the export opportunity that was building in China for American wheat farmers."