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Wheat Could Be Surprise Winner of US-China Trade Deal

Soybean purchases may be hampered by African swine fever

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Speculation is mounting that China will work to fill its wheat-buying quota as part of the detente, a pledge it failed to stick to in the past, reports AG Info.

While the allotment, set by the World Trade Organization, could be filled by supplies from any country, it still means additional global demand at a time the market is tighter.

Purchases of soybeans, meanwhile, are likely to be hampered by a deadly pig disease that's reducing demand. The oilseed is crushed to make cooking oil and meal, a key ingredient in hog feed.

"The potential that China could secure an additional 5 to 6 million tons of world wheat annually is underpinning Chicago Board of Trade wheat," Chicago-based consultant AgResource Co. said in a report Thursday, Dec. 26.

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