date:Jul 25, 2013
Soaring Chinese wheat purchases due to weather-related crop damage at home could lift global prices of the grain by about 10 percent in the next few months, a survey of traders showed.
The rush to secure wheat overseas by top consumer China is prompting farmers in the world's second-biggest exporter Australia to hold back sales of the grain to traders in hopes of higher prices, curtailing supplies.
China's buying spree is also driving up costs for leading wheat importing nations in Asia and th