China buys 120,000 tonnes of wheat

China has bought about 120,000 tonnes of hard wheat in past days, European traders said on Monday. The purchase involved two consignments of about 60,000 tonnes for nearby shipment, they said. Origin was unclear but may include some Australian and US wheat, traders said. "Wheat import demand from China seems stronger than previously expected and I think people will soon start raising their import estimates for the country," one European trader said.
The business appears to be non-tender directly negotiated deals, he added. Another trader regarded the deals as more routine. "We are talking about spot purchases in relation to specific needs and at prices that are attractive for them," he said. "This is not to do with a particular supply shortfall, there is nothing exceptional about these purchases."