China bumps up wheat order

Australia's wheat board, AWB Ltd, signed a contract with China National Cereals, Oils and Foodstuffs Corp (COFCO) to export a further 1.5m tonnes of the grain to China. AWB did not disclose terms but at current prices, the deal could be worth US$300 million. It follows a pact signed last December, committing AWB to supply COFCO with 1m tonnes. Officials said shipments on the latest order have already begun.