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SunSirs: Wheat Prices Were Weak Last Week
June 27 2022 09:39:43()

According to the monitoring of SunSirs, the domestic wheat market price continued to be weak last week. At the beginning of last week, the average price was 3078.00 RMB/ton. At the end of last week, the average price was 3054.00 RMB/ton, a slight decrease of 0.78%.

In late June, the domestic new season wheat market volume continued to rise, the domestic wheat market supply pressure continued to increase, the terminal flour demand continued to be depressed, and the wheat purchase price continued to be lowered after the wheat inventory of downstream processing enterprises was replenished, driving the overall high price of the domestic wheat market to continue to operate weakly.

Aftermarket forecast

Analysts of the SunSirs believe that: the supply of wheat market continues to increase, and the overall domestic wheat market price will continue to be under pressure in the short term. On the whole, the growers are reluctant to sell and hold up prices. The main body of trade is bullish in the future. The domestic corn price is still high, the international grain price continues to be high, and the overall fall space of the domestic wheat market price in the future is limited.

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