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China uses more wheat and signals lower soybean purchases from Brazil

RIO DE JANEIRO, BRAZIL - The Chinese government has put huge volumes of cheaper state wheat up for sale so that feed producers can replace costly domestic corn. More than 24 million tons of wheat has been sold from reserves this year, and the volume is expected to increase between 40 million to 50 million tons in the current season ending in May, according to the China National Grain and Oil Information Center (CNGOIC).

With this amount of wheat, with 4% higher protein content than corn, the use of soybean meal may fall by up to 2 million tons, or the . . .

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