China books at least 120 thsd tons of French wheat

China is resuming active wheat purchases on the global market, taking advantage of lower international grain prices. Last week, Chinese state-backed company COFCO, through its international trading arm COFCO International, booked at least two cargoes of French wheat totaling no less than 120 thsd tons. The company also purchased one cargo of Argentine wheat. Bloomberg reported the deals, citing sources familiar with the transactions.

The French wheat purchase could become China’s largest shipment from France since 2024. According to customs data, China imported approximately 60 thsd tons of French wheat in September 2026. The new contracts indicate renewed interest among Chinese buyers in European grain, although delivery dates and transaction prices have not been disclosed. COFCO International declined to comment on the reported purchases.

The recovery in Chinese buying interest comes amid declining global wheat prices. Chicago wheat futures have fallen significantly in recent weeks, losing the risk premium that had previously developed following heightened military tensions in the Black Sea region. Lower grain prices have created more favorable conditions for importers, allowing them to secure new contracts at more competitive levels.

In addition to France, China has returned to purchasing Argentine wheat. The volume of the latest cargo remains unknown, but it could represent the first Argentine wheat shipment to China since February 2026. In late 2025, Argentina resumed wheat exports to the Chinese market after a break of approximately 30 years. The latest purchase comes as Argentine farmers begin harvesting a new crop, with grain production expected to increase significantly.

Despite a decline in wheat imports in recent seasons, China remains among the world’s ten largest wheat buyers. Chinese importers are also exploring opportunities to purchase US grain. In October, COFCO expressed interest in US soft red winter (SRW) wheat shipments. As a result, lower global prices could encourage further Chinese purchases and intensify competition among major wheat exporters seeking access to the Chinese market.

Tags: China, France, wheat