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SunSirs: China's Wheat Prices Fell Weakly Last Week (June.1-5)

June 09 2020 08:04:26     SunSirs (Linda)

1. China wheat price chart

According to SunSirs monitoring, domestic wheat market prices continued to decline lastweek. The average price at the beginning of the week was 2,382.00 yuan/ton, and the average price at the weekend was 2,322.00 yuan/ton, down 2.52%.

2. Market analysis

In June, the domestic new quarter's listing volume gradually increased, the domestic wheat market's supply gradually increased, the trade subject's wait-and-see attitude was strong, the State Reserve's wheat auction transactions continued to decline, the domestic wheat market seamlessly connected, the market supply pressure continued to increase, downstream flour manufacturers Continued to reduce the wheat purchase price, driving domestic wheat prices under pressure to continue to fall.

3. Future market forecast

SunSirs wheat analysts believe new wheat listings continue to increase, the State Reserve's old wheat continues to be out of storage, domestic wheat market supply pressure continues to increase, and domestic wheat prices will continue to be under pressure in the near future.

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