With current wheat consumption seen at a staggering 150mmt in 2021, China’s demand for grains remains persistent. Demand continued to grow, driven by feed and residual demand that has grown 22mmt in the past 2 decades. Chinese feed mills usually rely on government reserves for wheat supply, but mills are now decreasing wheat use in their formulations as current corn is priced cheaper relative to wheat. With that in mind 2021/2022 demand could see usage of feed wheat slashed by 50% from 40mmt to around 20mmt, or even lower.