China buys Canadian and Australian wheat as heat hits crop, traders say

News Snapshot:

Chinese buyers bought between 400,000 and 500,000 metric tons of wheat from Australia and Canada in recent weeks, traders said, as heat threatens to damage crops in China’s agricultural heartlands. China is the world’s top wheat grower and also imports large amounts of grain when domestic supply falls short of demand. Earlier this week, Henan province, which grows about a third of China’s crop, issued a risk warning as hot, dry weather threatened the wheat growing in its fields. Chinese buyers have purchased four or five 55,000-ton shipments of wheat from Australia for delivery in July or August and around...