China cancels purchase of 132 thsd tons of US wheat due to falling prices

U.S. private exporters have notified the U.S. Department of Agriculture (USDA) of the cancellation of a sale of 132,000 tons of wheat to China that was announced on November 20 and was due to be delivered in the MY 2025/26.

The cancellation will be included in the Weekly Export Sales Report to be published on Monday, December 29, 2025.

All transactions involving the sale of 100,000 tons or more of wheat on the same day and to the same destination must be reported to USDA.

The cancellation comes amid a significant decline in global wheat prices. Soft red winter wheat futures on the Chicago Mercantile Exchange recently hit their lowest level since August 2020, around $5.28 per bushel, before recovering somewhat. Analysts say China, as one of the largest importers of grain, is sensitive to price changes and is looking for cheaper alternatives. The cancellation of contracts allows Chinese buyers to avoid purchasing at higher prices agreed upon earlier when the market was higher.

Tags: wheat, USA, China, prices