Wheat reserve auctions continue at full pace
State-run auctions of national wheat reserves in China this week continued to attract strong demand from private buyers.
The latest round of auctions offered nearly 525,000 tons of state reserves 2014-2017 harvests across four different provinces, nearly all of which were sold at an average price of 2,958 yuan/ton ($465 USD/ton).
Traded prices ranged from 2,390 yuan/ton (376 USD/ton) to 3,130 yuan/ton (492 USD/ton).
The Chinese state stockpiler is off...