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SunSirs: The High Price of Wheat in January Fluctuated Forward Slightly
February 06 2023 14:28:14SunSirs(John)

Price trend

According to the monitoring of SunSirs, the domestic wheat market price was high in January and fluctuated forward slightly. The average price on January 1 was 3,128.00 RMB/ton, and the average price on January 31 was 3,126.00 RMB/ton, down 0.06%.

Analysis review

After the New Year's Day, the stock of the downstream flour enterprises basically ended, the domestic logistics gradually stopped, the domestic wheat market trade basically stopped, and the domestic wheat market price fluctuated forward slightly. On January 11, all the wheat auctions with the lowest purchase price were completed, with different premiums. The overall price of domestic wheat market fluctuated slightly.

During the Spring Festival, the trade in the domestic wheat market basically stopped, and the wheat market price remained stable as a whole. After the year, flour enterprises began to work one after another. The demand for terminal flour was relatively stable. The purchase and sale of wheat market remained weak, and the wheat market price continued to move steadily.

Market outlook

According to the wheat analysts of SunSirs, the domestic wheat market has not yet fully recovered, the demand of terminal flour is relatively stable, and the flour inventory is relatively sufficient. In the short term, the domestic wheat market price will continue to move forward steadily.

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