SunSirs: Last Week, Chines Wheat Prices were Stable and Strong (9.7-9.11)
September 14 2020 07:40:05 SunSirs (Linda)
1. China's wheat price trend
According to the monitoring of SunSirs, the domestic wheat market price remained stable and on the strong side 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 2,390.00/ton, a slight increase of 0.08%.
2. Market analysis
Entering September, the domestic corn market price stabilized as a whole, and then moved forward with a slight fluctuation. The fall in corn prices caused the price difference between corn and wheat to recover, and the substitution effect of wheat for feed gradually disappeared. The policy of wheat continued to be shipped out of the warehouse to ensure supply and stable prices. The overall price of wheat out of the warehouse followed the policy and moved forward with relatively high fluctuations.
3. Outlook
SunSirs wheat analysts believe that the new season's wheat is high-yield, the stock of old grains is sufficient, the demand for flour is not strong during the peak season, and the policy grain continues to be out of the warehouse to ensure stable prices, and the overall price of domestic wheat is in a dilemma. With policy support, the domestic wheat market price will continue to follow the policy wheat price in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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