TextEdit wraps each word to its own line

When you turn on wrap in a TextEdit, and then add text, nearly every word is wrapped to its own line. This is in spite of there being room for more than one word on the line, due to the width being fixed to a large number. The below code reproduces:

import Qt 4.6

TextEdit {
width: 400
height: 200
wrap: true
focus: true
}