Chinese buyers have been making large purchases of French wheat and barley along with Ukrainian corn and barley in the last week, trade sources said, taking advantage of a pause in surging prices to cover some of their feed grain needs.
While the total volumes bought were not yet clear, the sources said importers had secured at least several hundred thousand tonnes of grain from France and Ukraine.
For French wheat, buyers were understood to have booked between six and 10 vessels, or potentially up to 600,000 tonnes, for shipment mainly between January and March, six traders said. "French wheat is currently looking attractive in price to the Chinese after falling from its peaks," a European trader said.
Chinese buyers are also making forward purchases of 2022 harvest barley from France and Ukraine, the sources said. In corn, Chinese buyers ordered cargoes from Ukraine for January-April shipment, four sources said. Estimates of volume varied from several to 10 or more cargoes, with one source seeing overall volume as high as 1 million tonnes.
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