The US Department of Agriculture has raised China’s wheat import estimate for the 2019-20 marketing season (July-June) to 4 million mt, up 25% from its previous estimate, reports Hellenic Shipping News.
If achieved, China’s 2019-20 wheat imports would reach a three-year high, according to the USDA’s World Markets and Trade report released last Tuesday.
The USDA said it was raising China’s wheat import estimate on the back of the faster pace of trade seen to date this season and large purchases made recently.
