Summary
Heavy rains hit the southern wheat belt ahead of, and during, harvest. Current estimates are about 8-10 million tons of damaged or sprouted wheat. The major central production regions of Henan and Shandong have mostly avoided these heavy rains, and weather forecasts remain positive for harvest.
Prices
The average wheat price in Henan is 2460 yuan per ton, up 3.4% year on year, and fell slightly during May. Prices in Hubei are 2474 yuan per ton, up 2.3% year on year, but have been under p...