China Emerges as World’s Top Wheat Buyer With Australia Key Supplier

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Heavy rains in Henan , China’s biggest growing region, have affected quality and pushed up prices of the higher-protein grain used to make bread and noodles. Photo: Bloomberg

(Bloomberg) — Add wheat to the extensive list of commodities markets dominated by Chinese buyers.

Already the world’s top importer of corn and soybeans, the nation is now poised to overtake Egypt and Turkey as the biggest buyer of wheat in the year through June, Chinese and U.S. official data show. Purchases exceeded 12 million tons in the first 11 months of the marketing year, which runs through June. More than half of those cargoes were supplied by Australia.