On June 23, a small auction of 5k tons of Australian wheat received a large amount of attention due to the high price it traded at. The base price going into the auction was 2500 yuan per ton, but the Australian wheat from 2021 traded at 2802-2812 yuan per ton, or a premium of over 300 yuan per ton.
Procurement bidding for new wheat has continued to see challenges due to quality in some regions. A stockpiler in Hubei bid for 2.5k of 2026 with a reserve price of 2640 yuan per ton but failed to pu...