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China makes big Canadian wheat buy
The Canadian Wheat Board has made a major sale to China.

Half of China's wheat imports come from Canada

The Chinese have agreed to buy one million tonnes of milling wheat in the 2005-2006 crop year, a deal worth $250 million at today's prices.

According to Canadian Wheat Board spokesperson Louise Waldman, it's a significant sale for Canada.

"We're looking at the fastest-growing economy in the world, China, and we have a very well established business relationship in that market," she said.

"That's only good news for us and for western Canadian farmers whose grain we're marketing."

Waldman said the Chinese have become more discerning buyers. She said consumers want quality products and they like Canadian wheat.

Saskatoon economist Richard Gray said the sale is significant more for the psychological boost it gives to farmers than anything else.

"It's a sale that we more or less expected, although China has been much more intermittent in the world grain markets than they have been in the past," he said.

"So a commitment for next year is an indication that they will still be in the market."

Gray said the sale shows the two countries are important trading partners. Half of China's wheat imports and a fifth of its malting barley imports come from Canada.
MGR Archive 23.1.2005
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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