SunSirs: Agriculture: Wheat Price Fluctuated Slightly (December 9-13)
December 17 2019 09:49:39 SunSirs (Daisy)
1. Price Trend
According to data from SunSirs, the domestic wheat market price generally fluctuated slightly this week. The average price at the beginning of the week was 2,392.00 RMB/ton, and the average price on August 30 was 2,388.00 RMB/ ton, down slightly by 0.17%.
2. Market Analysis
Entering December, the policy wheat has been outbound normally, and the turnover rate has maintained a low level. The policy support has provided some support to the domestic wheat market price. Affected by the low demand for terminal flour supposed to be in the busy season, the overall willingness of flour mills to replenish stocks has declined. Some companies have slightly reduced the wheat purchase price at the beginning of the month, which has caused the domestic wheat market price to adjust slightly.
Policy: The lowest purchase price wheat trade fair held on December 11 plans to list and trade state reserves of 3,001,601 tons of wheat, with a turnover of 35,673 tons, a transaction of 1.18%, a maximum price of 2,370 RMB/ton, a minimum price of 2,290 RMB/ton, and an average transaction price of 2,334 RMB/on.
3. Market Forecasting
SunSirs' analysts of wheat analysts believe that domestic grass-roots tradable food sources have bottomed out at present. And a small amount of wheat is going out of the warehouse. The terminal demand for flour is not busy in the peak season. Manufacturers have relatively sufficient stocks, and their willingness to make up stocks is poor. In the short term, the domestic wheat market price will move slightly ahead of the current level.
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