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SunSirs: Wheat Price Was in Weak Adjustment This Week (March.23-27)

March 30 2020 11:12:08     SunSirs (Daisy)

The overall domestic wheat market prices slightly were in weak adjustment this week. The average price at the beginning of the week was 2404.00 RMB/ton, while the average price at the weekend was 2402.00 RMB /ton, down slightly by 0.08%.

Enter in late March, the auction is still normal operation, and storage policy stocks overall inventory is still at a higher level. As for enterprises, their inventories have reached a certain level, thus reducing the overall participation enthusiasm. Recently, the national reserve has slightly reducing transaction volume. And the end flour industry has limit demand while the wheat supply market was quite sufficient as the continuous supply of policy wheat. The market has strong supply and weak demand. Therefore, the national wheat market will change weakly. 

Market Forecast: SunSirs wheat analysts think that terminal flour demand is limited, and the inventory continues to increase, while policy wheat supply is sufficient. The market supply is strong while demand become weak. The short-term domestic wheat market price will continue to be stable and in weak operation.

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