Chinese buyers cancel or postpone 1 million metric tons of Australian wheat, sources say – Times of India

by The Technical Blogs

SINGAPORE: Chinese wheat importers have cancelled or postponed imports of about 1 million metric tons of Australian wheat cargoes, which were scheduled to be shipped in February, March and April, two trade sources with direct knowledge of the deals said.
The US government reported cancellation of more than 500,000 metric tons of US wheat exports to China in the past week.
Chinese buyers have cancelled some deals for Australian wheat, and they are also moving the shipping time from the first quarter to the second quarter, third quarter,” said one Singapore-based trader at an international trading company, which sells Australian wheat to Asia.
A second trader in Singapore said trading companies have vacated shipping slots across several Australian ports, which were booked for cargoes to be shipped to China. Both traders declined to be named because of the sensitivity of the matter.

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