The latest US wheat was bought at between $320 to $328 per tonne CIF for delivery from July to September. The US price was about 11.6 percent cheaper than domestic wheat, said the centre. Beijing is refilling its depleted state wheat reserves, while some state wheat quality was also deteriorating. Traders said Sinograin, the state stockpiler which made the purchases, was looking for another 2-3 million tonnes.
The US Department of Agriculture (USDA) on Friday confirmed only 180,000 tonnes of US soft red winter wheat were sold to China, but traders expected more to be announced. Chicago Board of Trade wheat fell to a more than 1-month low last week after forecasts for crop-boosting rain in some areas. The centre last month reported that China bought 14-16 cargoes of US SRW wheat, which was confirmed later by the USDA.