Japan snaps up more Canadian wheat, turns from U.S.
Traders said the logistical problems in Canada may have been behind this.
"Although Canada had a bumper harvest, its export ability is maxing out, so the (price) gap should eventually narrow further as logistics get more expensive," said one Tokyo grains trader.
Japan has boosted its purchases of Western Red Spring around this time in past years to create ample stockpiles in case shipments across the Pacific Ocean were delayed in the past, but never at such a level, the trader said.
The government official said last week that the surprise tender did not mark a change in Japan's wheat buying procedures.
The supplementary tender for the Canadian grade added to the four cargoes the agriculture ministry took last week in its regular milling wheat tender, more than the one or two they normally buy.
- Texas fall armyworms out early due to unseasonable rains
- Scout for western bean cutworm, western corn rootworm in Ohio
- AgSense releases iPad version of its WagNet Mobile app
- Ag markets posted divergent moves again Thursday
- Ag markets remained mixed at midsession Thursday
- Be wary of wheat quality after wet weather
- Don’t link bird decline and use of neonicotinoids
- Commentary: Setting the record straight on 'Waters of the U.S.'
- Look at fertilizer pricing 2013 vs. 2014
- Solar energy jobs increase, wind power decrease
- Setting the record straight on 'Waters of the U.S.'
- Comments end for Enlist Duo but not the fight