Wheat prices are under pressure from hot weather in China
The latest USDA monthly report highlights concerns over China’s wheat production due to prolonged drought and hot weather, which could harm the winter wheat harvest. These adverse conditions have raised fears of reduced output, prompting China to reportedly secure wheat imports from countries like Canada and Australia to ensure stable domestic supply and counter potential shortages.
The latest monthly USDA report contains important data, particularly regarding wheat production levels in China, where hot weather could negatively impact the harvest. China is experiencing a prolonged drought, which will likely impact winter wheat production (there have been reports of wheat purchases from Canada and Australia).
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Source : Ukr Agro Consult
