Wheat prices in China break key level due to crop concerns
Last month much of the commentary and discussion was about whether wheat prices could hit 1.5 yuan per jin (3,000 yuan/ton) – a major psychological level in the market.
This critical price level has been reached this week, and the market is talking about if the wheat market in China has entered the ‘1.6 era’ which would be 3,200 yuan/ton.
Wheat prices within China are often quoted in yuan per jin, with one jin equivalent to 0.5 kilograms...