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SunSirs: Domestic Wheat Prices Rose Slightly in August

September 06 2019 11:34:03     SunSirs (Eva)

  1.Price Trend

  According to the monitoring of SunSirs, the price of domestic wheat market rose slightly in August as a whole. The average price was RMB 2262.00/ton on August 1 and RMB 2278.00/ton on August 30, with a slight increase of 0.71% in the month as a whole.

  2.Cause analysis

  In August, the whole process of wheat market acquisition is faster than the same period in previous years. Under the policy support, the wheat bottom support gradually strengthens, and the price overall weakness tends to stabilize.

  In late August, the flour market is coming to support the flour market peak season, flour processing enterprises start up rate has rebounded, in order to stimulate the arrival of manufacturers to raise the price of replenishment warehouse slightly, support the domestic wheat market price slightly upward.

  Data: The latest data from the State Food and Material Reserve Bureau show that as of August 20, wheat purchases in the main producing areas totaled 58.974 million tons, an increase of 17.123 million tons over the same period of last year. Among them, Jiangsu purchased 11.739 million tons, an increase of 1.88 million tons over the same period of last year; Anhui purchased 9.123 million tons, an increase of 44.4 million tons over the same period of last year; Henan purchased 16.509 million tons, an increased by 7.12 million tons 645,000 tons; 8.433 million tons purchased by Shandong, an increase of 138.4 million tons; 1.43 million tons purchased by Hubei, an increase of 72,000 tons; and 5.53 million tons purchased by Hebei, an increase of 186.1 million tons.

  3.Future Market Forecast

  SunSirs wheat analysts believe that: in September, universities and middle schools have opened one after another, with double-section consumption support, flour consumption will increase, enterprise start-up rate will rise, supported by demand, the domestic wheat market prices are expected to continue to run steadily, moderately and strongly in September as a whole.

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

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