Asia buys Australian wheat considering the rumors of “grain corridor” closure

Asian buyers have ordered several shipments of Australian feed wheat as the prospects for a continuation of the Black Sea Grain Initiative look increasingly uncertain.

It is noted that the Philippines and South Korea bought at least four batches of fodder wheat, writes Latifundist with reference to S&P Global Platts. Thus, the Philippine import group ordered three batches of Australian feed wheat of 50,000 tons each — for delivery in January-February, at a price of about $340 per ton.

At the same time, South Korea’s Major Feedmill Group ordered 65,000 tons of feed wheat for shipment from February 7 to March 17 at a price of $354.49 per ton.

Earlier, the media reported that China may start importing corn from Brazil as early as December. For China, this is evidence of attempts to reduce dependence on the United States and replace supplies from Ukraine, if the latter cease again due to the russian invasion.