– China Dumping US Wheat Shipments At Record Pace:
China, the world’s top agricultural importer, has canceled half a million tons of wheat from the US over the past week, adding to the record number of cancellations that have weighed on Chicago futures, according to Bloomberg.On Monday, private exporters exited purchases of 264,000 metric tons of US soft red winter wheat to China. This is the third consecutive day with such an announcement, and cancellations total 504,000 metric tons—the most in USDA history dating back to 1999.
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