SunSirs: The Wheat Price Runs Slightly Stronger

1.Price Trend

According to the monitoring of SunSirs, the price of domestic wheat market has been stable, moderate and strong this week (9.2-9.6). At the beginning of the week, the average price was RMB 2278.00/ton, and at the end of the week, it was RMB 2282.00/ton, a slight increase of 0.18%.

2.Cause analysis

In September, the purchasing process of wheat market in Tokyo was faster than the same period in previous years. Under the support of policy, the price of domestic wheat market was stable as a whole. Prior to that, some enterprises raised their prices to replenish their stores, which led to the overall stable, moderate and strong operation of the domestic wheat market. This week, the performance of the domestic wheat market was very flat, and the overall market price rose slightly and then leveled off. Stable operation.

Data: The latest data from the State Food and Material Reserve Bureau show that, as of August 25, wheat purchases in the main producing areas totaled 60.577 million tons, an increase of 17.924 million tons over the same period of last year. Among them, Jiangsu purchased 118.98 million tons, an increase of 192.2 million tons over the same period of last year; Anhui purchased 92.82 million tons, an increase of 44.69 million tons over the same period of last year; Henan purchased 16.95 million tons over the same period of last 783,000 tons; 8,883,000 tons purchased by Shandong, an increase of 15.73 million tons; 1.413 million tons purchased by Hubei, an increase of 80,000 tons; and 5.78 million tons purchased by Hebei, an increase of 1959,000 tons.

3.Future Market Forecast

SunSirs wheat analysts believe that: with the support of the municipal policy, the domestic wheat market prices are expected to continue to move steadily next week.

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