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SunSirs: The Wheat Price Runs Slightly Stronger (9.16-9.20)

September 25 2019 11:19:35     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, the price of domestic wheat market as a whole rose slightly stronger this week. The average price at the beginning of the week was RMB 2288.00/ton, while the average price at the end of the week was RMB 2294.00/ton, a slight increase of 0.26%.

2.Cause analysis

In mid-September, the market-based acquisition in the main producing areas gradually came to an end, and the overall acquisition progress was faster than the same period in previous years. With the support of policy, the domestic wheat market prices continued to operate steadily, moderately and strongly. With the new season of maize coming into the market, grain traders gradually turn their eyes to maize trade, and their willingness to leave the warehouse has increased. Affected by the unexpected demand for terminal flour, the overall purchasing willingness of flour mills has declined. The problem of strong supply and weak demand in the domestic wheat market has been highlighted by the TRADERS'taking off the warehouse for maize. Wheat continues to rise with insufficient momentum.

  Data: As of September 5, wheat purchases in the main producing areas totaled 64.314 million tons, an increase of 19.957 million tons over the same period of last year. Among them, Jiangsu purchased 12.19 million tons, an increase of 203.1 million tons over the same period of last year; Anhui purchased 9.581 million tons, an increase of 44.26 million tons over the same period of last year; Henan purchased 18.222 million tons, an increased 8.86 million tons over the same period of last year; Shandong purchased 9.774 million tons, an increase of last year. Ninety-eight thousand tons; Hubei acquired 1.64 million tons, an increase of 130,000 tons; Hebei acquired 6.359 million tons, an increase of 2.287 million tons.

3.Future Market Forecast

SunSirs wheat analysts believe that: multi-empty game, the domestic wheat market prices continue to rise space is insufficient, the domestic wheat market prices are expected to stabilize next week after a small fluctuation.

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