China Cancels Record Shipments of U.S. Wheat

(Bloomberg) — China canceled another batch of U.S. wheat export shipments, adding to an already record number of cancellations that have weighed on Chicago futures.

The U.S. Department of Agriculture in a Monday statement said private exporters exited purchases of 264,000 tons of U.S. soft red winter wheat to China. It was the third straight session with such an announcement, bringing the cancellation total to 504,000 tons, the most in USDA data going back to 1999.