Japan buys more wheat than it has in a decade

Japan, the world’s largest corn buyer, may purchase less of the grain as feed-wheat imports almost quadruple this year to the highest level since 2001, as livestock producers seek to cut costs. “Increased purchases of feed wheat means Japan’s corn imports will decline, as overall demand for feed grains isn’t growing,” Tomita said in Tokyo. Japan’s feed makers, recovering from damage caused by the March 11 earthquake and tsunami, “are taking advantage of an expanded gap in purchasing costs between corn and wheat.” Read more ...