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SunSirs: Wheat prices fell slightly this week (2.24-2.28)

March 03 2020 16:23:04     SunSirs (Molly)

1.  Price trend

According to the monitoring of SunSirs, the domestic wheat market price as a whole was slightly adjusted this week. The average price at the beginning of the week was 2412.00 yuan / ton, and the average price at the weekend was 2408.00 yuan / ton, a slight increase of 0.17%.

2. Market Analysis

Entering late February, with the country ’s intensive policy wheat imports, the tight supply situation in the domestic wheat market has eased. After some manufacturers have replenished their inventories, the wheat purchase price has been slightly reduced, driving the domestic wheat market price to a slightly weaker tone this week. Taken as a whole, there is a dwindling supply of high-quality domestically-available food sources in the country, and the market price of wheat in the market outlook will be limited with immediate support.

Policies: The lowest purchase price on February 26, the national temporary storage, and inter-province wheat transfer trade fair. The planned input is 30,595,400 tons, the actual transaction volume is 227,883 tons, the transaction rate is 7.44%, and the average transaction price is 2338 yuan / ton, down from the previous period. 4 yuan / ton.

3. Market 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. This week, the average price of wheat sold in the state reserve declined slightly, and the domestic wheat market price as a whole was slightly adjusted. The overall price of wheat from the State Reserve will continue to fluctuate slightly.

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