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SunSirs: China's Wheat Prices Stabilized Last Week (8.24-8.28)

September 01 2020 08:42:18     SunSirs (Linda)

1. China's wheat price trend

According to the monitoring of SunSirs, the price of Chinese wheat market continued to move steadily last week. The average price at the beginning of the week was RMB 2,388.00/ton and the average price at the weekend was RMB 2,388.00/ton, representing a zero increase or decrease.

2. Market analysis

Entering late August, the domestic corn market price continued to fall, the role of wheat forage substitution declined sharply, coupled with the increase in the amount of wheat from the national reserve to stabilize grain prices, the downstream enterprises' mentality of grabbing grain weakened, the wait-and-see attitude of trading entities increased, and the overall domestic wheat market price Move forward steadily.

3. Outlook

SunSirs wheat analysts believe that: the price of corn has fallen, the stocks of old wheat grains are sufficient, the new season's wheat is high-yield, the price underpinning is protected, and the game between long and short, the price of wheat in the market outlook is in a dilemma. The market outlook will continue to follow the policy and price stability.

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