A Month After Xi Jinping Meets With Iowan Farmers, China's Outsized Impact On US Commodity Markets Is Made Clear With Historic Buying Spree
Big Purchase Between October and mid-December 2023, China purchased a massive amount of wheat, totaling 60 million bushels. This included a record-breaking weekly total of 55 million bushels. This unexpected development occurred when U.S. wheat prices had recently hit multi-year lows. Despite initial indications of a record-low year for U.S. wheat exports in 2023/24, China’s sudden...
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