China's Summer Grain Procurement Hits Record High as Wheat Buying Surges

China's summer grain procurement has reached its busiest stretch, with commercial buyers and market participants taking in over 90 million metric tons of wheat nationwide. According to the National Food and Strategic Reserves Administration, wheat buying is advancing without major disruptions.

The agency noted that early-season indica rice in China's southern regions is now arriving on the market in substantial quantities. To safeguard farmer earnings and bolster grain prices, authorities have rolled out minimum purchase price mechanisms for early indica rice in Jiangxi and Hunan provinces, as well as for wheat in Henan province.

The administration plans to pair market-driven procurement with state-supported reserve operations, while keeping a close watch on weather patterns, particularly precipitation. It will also direct local governments to expand grain drying and storage capabilities and assist growers in cutting losses after harvest.