# China Purchases SRW

> China bought 1.12 million tonnes of U.S. SRW wheat for delivery in 2023/24 between December 4 and 8. USDA raised its estimate of total 2023/24 SRW sales by about 817,000 tonnes to 4.76 million tonnes. China is exceeding its WTO tariff-rate quota again, partly because rain damaged its 2023 crop.

- Date: 2023-12-11 · published 2023-12-11T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/32750-china-purchases-srw
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Large Chinese buying lifts U.S. SRW export demand and prices, and could make 2023/24 the largest SRW export year since 2013/14. The purchases also reflect China's import needs after crop damage.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-01-03 | [China Purchases SRW](https://feedsoft.ai/events/32186-china-purchases-srw.md) | -1.9% | -1.8% |
| WHEAT | 2019-02-21 | [China to propose $30 billion more US agriculture purchases](https://feedsoft.ai/events/60478-china-to-propose-30-billion-more-us-agriculture-purchases.md) | -3.2% | +0.7% |
| WHEAT | 2023-12-11 | [China significantly steps up US grain purchases \| Agriculture Dive](https://feedsoft.ai/events/14788-china-significantly-steps-up-us-grain-purchases-agriculture-dive.md) | -2.8% | +1.5% |
| WHEAT | 2020-02-19 | [China Sets Up Duty Waivers for U.S. Commodity Purchases - Caixin Global](https://feedsoft.ai/events/54476-china-sets-up-duty-waivers-for-u-s-commodity-purchases-caixin-global.md) | -1.6% | -0.8% |
| WHEAT | 2020-03-24 | [China makes largest U.S. grain purchases since start of trade war - UPI.com](https://feedsoft.ai/events/54008-china-makes-largest-u-s-grain-purchases-since-start-of-trade-war-upi-com.md) | +3.1% | +2.6% |

## Sources

- uswheat.org: https://uswheat.org/wheatletter/china-soft-red-winter-purchases-the-right-wheat-at-the-right-time/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.