SunSirs: China's Wheat Prices Remain Stable this Week (9.21-9.25)
September 27 2020 08:17:35 SunSirs (Linda)
1. Domestic wheat price trends
According to the monitoring of SunSirs, the domestic wheat market prices remained stable this week. The average price at the beginning of the week was RMB 2,390.00/ton and the average price at the weekend was RMB 2,390.00/ton, representing a zero increase or decrease.
2. Market analysis
In late September, the domestic wheat market's circulated grain sources have declined. After the weather turned cooler, the demand for terminal flour was lower than expected, which caused the wheat procurement of flour companies to flatten. The State Reserve continued to keep the supply of wheat from the warehouse to maintain a stable price. Stable, the overall domestic wheat market this week remained stable.
3. Outlook
SunSirs wheat analyst believes that during the protection policy period, the domestic wheat market has limited room for price fluctuations and will continue to stay at the current level and move forward.
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