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SunSirs: Wheat Prices run Stronger this week (2.17-2.21)

February 27 2020 09:23:26     SunSirs (Molly)

1. Wheat Price trend

According to the monitoring of SunSirs, the overall domestic wheat market price this week was slightly stronger. The average price at the beginning of the week was 2404.00 yuan / ton, and the average price at the weekend was 2412.00 yuan / ton, up slightly by 0.33%.

2. Market analysis

Entering mid-February, the continued reduction of high-quality liquid grains at the grassroots level, coupled with the continued tightness of food transportation caused by the epidemic situation, downstream flour companies have continued to slightly increase wheat purchase prices to ensure market supply, driving the domestic wheat market price to continue to run this week. With the intensive introduction of national policy wheat, the tight supply situation in the domestic wheat market has eased, and the overall rise in wheat prices this week has stabilized.

Policy: The policy wheat auction held by the state on February 19, with a total volume of 3.068 million tons and an actual transaction volume of 235,400 tons, an increase of 82,100 tons over the previous period; a transaction rate of 7.67%, an increase of 1.89 percentage points over the previous period; The price was 2342 yuan / ton, up 3 yuan / ton from the previous period.

3. Future Forecast

SunSirs wheat analysts believe that: policy grain sources continue to be put in place, and the tight supply situation in the wheat market has eased. It is expected that the domestic wheat market price will stabilize and move forward next week.

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