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China's wheat output could fall as much as 20 percent this crop year after bad weather hit fields in major growing areas. Traders and an analyst expect this to boost Chinese wheat imports.
International wheat prices had already risen nearly 15 percent since early April on tight global supply worries.
A large Chinese crop shortfall would increase import demand from the world's largest wheat consumer, adding upward pressure on global wheat prices. Feed buyers should expect firmer wheat costs.
reuters.comHallie GuJun 21, 2018After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
