China’s wheat output could drop as much as 20% this crop year after bad weather hit fields in major growing areas, likely boosting imports by the world’s top producer and consumer of the grain, traders and an analyst said.
Reuters reports increased Chinese demand for wheat cargoes could pile more upward pressure on international prices for the commodity, which have already soared nearly 15% since early April on worries over tight global supplies.
Read the full report here.
