What does the 800,000-ton increase in China's wheat imports mean?

China's wheat imports raised by 800,000 tons According to the July supply and demand report released by the USDA, U.S. wheat supply for 15/16 is projected to be raised by 58 million bushels, mainly due to upward revisions to beginning stocks and production. Ending stocks are raised by 28 million bushels to 842 million bushels, the highest since 10/11. The increase in production is mainly because the upward revision to spring wheat production more than offset the downward revisions to hard red winter wheat, soft red winter wheat and white wheat production.

Global wheat supply for 15/16 is projected to be raised by 12.1 million tons, mainly due to an upward revision to beginning stocks. China's beginning stocks are raised by 11.4 million tons, due to a downward revision to feed use and adjusted use. Because wheat prices are not competitive with corn prices, China's wheat feed use has declined sharply since 13/14. Global wheat consumption for 15/16 is projected to be lowered by 5.4 million tons, China's imports are raised by 800,000 tons, and consumption capacity increases. Global ending stocks for 15/16 are raised by 17.4 million tons, to a record level of 219.8 million tons.