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Japan to Increase Wheat Imports as Rain Ravages Crop

Cool and rainy weather this summer, an influence from the El Nino weather pattern, is reducing farm output in Japan, the world’s largest grain importer. The nation’s RICE production may decline 6.9 percent this year to the LOWEST LEVEL IN SIX YEARS on lower yields. Japan may increase WHEAT purchases to a MORE THAN 3-YEAR HIGH as rain cuts domestic output and lower prices help revive demand. Wheat demand is recovering after the nation’s worst postwar recession and a rise in the grain’s price last year spurred a shift to rice. An expected cut in Japan’s wheat selling prices in October may be the largest in four decades, after the reduction in April was the biggest since 1970.

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