China raises wheat imports by 800,000 tons

China's wheat imports rise by 800000 tonnes according to the July supply and demand report released by USDA, US wheat supply is expected to increase by 58 million bushels in 15 / 16, mainly due to increased initial inventories and production. Ending inventories rose 28 million bushels to 842 million bushels, the highest since 10 / 11. The increase in yield was mainly due to the upward adjustment of spring wheat to offset the decrease in the yield of hard red winter wheat, soft red winter wheat and white grain wheat.

Global wheat supply is expected to increase by 12.1 million tons in 15 / 16, mainly due to an increase in opening stocks. China's opening inventory increased by 11.4 million tons due to a reduction in feed usage and adjustment. As wheat prices are not competitive with corn prices, the amount of wheat feed in China has fallen sharply since 13 / 14. It is estimated that in 15 / 16, global wheat consumption will be reduced by 5.4 million tons, while China's imports will increase by 800000 tons, thus increasing consumption power. Global ending inventories rose by 17.4 million tonnes in 15 / 16 to a record level of 219.8 million tonnes.