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SunSirs: Wheat Price Rose Steadily in September

September 30 2019 14:44:08     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, the price of domestic wheat market rose slightly in September, then fell behind and shocked slightly. The average price on September 1st was RMB 2278.00 yuan/ton, and on September 30th was RMB 2292.00 yuan/ton, with a slight increase of 0.61% in the month as a whole.

2.Cause analysis

In September, the process of purchasing wheat in Tokyo was faster than the same period in previous years. Supported by two-section demand and national storage policy, the price of domestic wheat market as a whole was slightly stronger.

As the main production areas gradually come to an end, the acquisition progress slowed down. At the same time, the domestic new season maize began to enter the market in late September, grain traders gradually turned their eyes to maize trade, and Tengku willingness increased. Affected by the terminal flour demand peak season is not strong, the overall demand of flour mills is limited, and the stage supply of wheat is limited. The problem of strong demand and weak demand is highlighted. Under the pressure of many bad conditions, wheat market prices in some areas fell slightly at the end of the month, and then moved forward after the overall price rise of domestic wheat market slowed down in September.

Data: As of September 10, wheat purchases in the main producing areas totaled 65.998 million tons, an increase of 1998.8 million tons over the same period. Among them, Jiangsu purchased 12.309 million tons, an increase of 213.5 million tons over the same period of last year; Anhui purchased 9.913 million tons, an increase of 47.11 million tons over the same period of last year; Henan purchased 18.743 million tons, an increased 8.517 million tons over the same period of last year; Shandong purchased 10.133 million tons, an increase over the same period of last year. It added 1985,000 tons; Hubei bought 1.573 million tons, an increase of 135,000 tons; Hebei bought 6.617 million tons, an increase of 2.431 million tons.

3.Future Market Forecast

SunSirs wheat analysts believe that the end of the annual token market acquisition, wheat bottom support is no longer, on October 7 will reserve 3 million tons of wheat auction restart, the main market trade wait-and-see attitude is strong, it is expected that October domestic wheat prices as a whole will be affected by the storage price of wheat.

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