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SunSirs: Wheat Prices Fluctuated Slightly This Week (July 18-22)
July 25 2022 09:21:30SunSirs(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 3008.00 yuan/ton, and the average price at the weekend was 3008.00 yuan/ton, with a change of 0.

Analysis review

Entering mid-July, wheat prices soared and continued to fall, causing grain traders to be reluctant to sell at higher prices. In addition, frequent rainfall in many places made it more difficult for trade entities to purchase. The demand for terminal flour was still sluggish, the wheat inventory of downstream flour enterprises was relatively sufficient, the competition between supply and demand in the domestic wheat market intensified, and the overall high price of domestic wheat market fluctuated slightly.

Market outlook

The wheat analyst of SunSirs believes that: the market is playing a long and short game,, and the overall wheat market price is in a dilemma. It is expected that the domestic wheat market price will continue to consolidate around the current level in the short term.

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