China buys 840,000 tonnes of soft red winter wheat
by Ron Sterk
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WASHINGTON — The U.S. Department of Agriculture said July 8 that private exporters have sold 840,000 tonnes of U.S. soft red winter wheat to China for delivery in the 2013-14 marketing year that began June 1, 2013.
It was the third sale for a total of 1,320,000 tonnes of soft red winter wheat to China in the past two weeks.
The U.S.D.A. reported sales of 120,000 tonnes of soft red winter wheat to China on July 5 and of 360,000 tonnes on July 3, both for delivery in 2013-14. China also purchased 180,000 tonnes of soft red winter wheat on May 24 and 360,000 tonnes on April 11, both for delivery in the 2013-14 marketing year.
Rumors of sales totaling 1.3 million tonnes of soft red winter wheat were in the market last week. In early electronic trading on July 8 Chicago soft red winter wheat futures were up about 2c a bu.
The U.S.D.A. indicated in its July 5 weekly export sales report, that as of June 27, there were outstanding export sales of 1,480,100 tonnes of U.S. wheat to China for delivery in 2013-14, compared with 277,500 tonnes at the same time a year earlier. Of that total, 1,306,200 tonnes were soft red winter, 3,800 tonnes were hard red winter, 60,000 tonnes were hard red spring and 110,000 tonnes were white wheat. Actual export shipments of wheat to China were 348,600 tonnes for the year to date (June 1-June 27), compared with 61,800 tonnes in the same period a year earlier.
Exporters are required to report to the U.S.D.A. any sales of 100,000 tonnes or more of one commodity in one day to one destination by 3:00 p.m. Eastern Time the next business day after the sale. Smaller amounts are included in the U.S.D.A.’s weekly export sales report.