Posted 12/20/2023, 5:09:03 PM
China Bolsters US Agriculture Ties With Major Wheat Purchase
- China makes huge wheat purchases from US, buying 60 million bushels between October and December 2023
- Comes after China projected to be top global wheat importer in 2023/24 amidst quality issues
- Increased demand reversed downward price trends after market players took significant net short positions
- Purchase follows meeting between China's President Xi Jinping and Iowa soybean farmers on agricultural diplomacy
- Commodity ETFs like Teucrium Wheat and Soybean funds offer investors exposure to agriculture markets impacted by China