Key takeaways for China from February Wasde
China wheat demand outlook weakens amid stronger prices
The projection for Chinese consumption of wheat in 2021/22 marketing year continued to fall as the preference to substitute corn diminished amid rising wheat prices.
The USDA pegged Chinese wheat demand at 35 million tons in the February Wasde report, down 1 million tons from the figure last month.
“Domestic wheat prices are no longer at a discount to corn and wheat auctions have not been as act...