"China to Begin Purchasing American Wheat Following Soybeans"

Bloomberg News reported on November 3 (local time) that China, which has agreed to a truce in its trade war with the United States, is set to begin purchasing American wheat following its recent purchases of American soybeans.

Reuters Yonhap News

According to Bloomberg News, citing anonymous sources, a major Chinese grain importer inquired over the past weekend about shipments of American wheat scheduled for delivery between next month and February 2026. Market research firm AgResource also noted that Chinese buyers showed interest in American wheat varieties late last week, estimating the purchase volume at between 240,000 and 400,000 tons. Following this news, wheat prices on the Chicago futures market rose by 2.1%, reaching their highest level in three months.

According to the U.S. Department of Agriculture, China last purchased American wheat in October of last year. From January to September this year, China's wheat imports fell to less than one-third of last year's level. This is believed to be the result of Chinese authorities supporting domestic agricultural prices in response to weak demand and oversupply.

On October 30, the United States and China agreed to a trade war truce following a summit between President Donald Trump and President Xi Jinping in Busan. As a result, China resumed purchases of American soybeans. Subsequently, the White House announced that China had promised to open its market to American agricultural products.

Bloomberg News pointed out, "However, due to the U.S. government shutdown, the release of import and export data has been suspended, making it difficult to track the shipment status of agricultural products."

This content was produced with the assistance of AI translation services.