China may import wheat

Chinese importers are negotiating deals to buy 500,000 tons of Australian wheat for January-March shipment to fill a shortfall in domestic supplies, trade sources told Reuters Wednesday.

Chinese interest in Australia's new-crop wheat comes after China has seen as much as 20 million tons of its crop downgraded by adverse ­weather, according to Reuters.

China's wheat crop has suffered more severely than previously thought from frost in the growing period and rain during the harvest.

China has already bought 300,000 tons of new-crop Australian wheat in contracts signed at the end of June and early this month.