SunSirs--China Commodity Data Group

Sign In

Join Now

Home > Commodity News > News Detail
Commodity News
SunSirs: Wheat Prices Fluctuated at High Levels This Week (May 16-20)
May 23 2022 15:47:41SunSirs(John)

Price trend

According to the monitoring of SunSirs, the domestic wheat market price fluctuated slightly this week. The average price at the beginning of the week was 3,144.00 RMB/ton, and the average price at the weekend was 3,150.00 RMB/ton, a slight increase of 0.19%.

Analysis review

Entering the middle of May, new wheat in some areas of the south entered the market one after another, and most trade entities turned their attention to new wheat, which pushed the domestic wheat market price to open higher as a whole.

After the new wheat entered the market, the policy wheat transaction volume and price dropped to varying degrees. In addition, the new wheat price continued to rise, and the role of feed substitution weakened again.

The overall procurement of downstream enterprises is relatively cautious. With the gradual increase in the listing of wheat, the phased tight supply situation in the domestic wheat market will gradually ease, and the overall domestic wheat market price will fluctuate at a high level.

Market outlook

The wheat analyst of SunSirs believes that: the international wheat price continues to rise, domestic new wheat is entering the market one after another, and the active purchase of trade entities has boosted the overall domestic wheat market price to open higher. With the increase in the market outlook of wheat, the room for domestic wheat to continue to rise is generally limited.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

Exchange Rate:

8 Industries
Energy
Chemical
Rubber & Plastics
Textile
Non-ferrous Metals
Steel
Building Materials
Agricultural & Sideline Products