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SunSirs: Wheat Prices Continued to Rise (10.14-10.18)

October 23 2019 10:46:39     SunSirs (Eva)

1.Price Trend

According to the monitoring of SunSirs, the domestic wheat market price overall continued to rise this week. The average price at the beginning of the week was RMB 2290.00 yuan / ton, and the average price on August 30 was RMB 2332.00 yuan / ton, up 1.75%.

2.Cause analysis

In the middle of October, the amount of wheat delivered by flour mills continued to be relatively small. In order to ensure that the production and processing enterprises continue to raise the purchase price of wheat, the main body of grain storage trade has a certain mentality of keeping a firm price and boosting the domestic wheat market price to continue to rise.

Policy: on October 16, the transaction rate of wheat with the lowest purchase price was 0.12%, and the average transaction price was RMB 2343 yuan / ton.

Data: as of September 30, the acquisition of wheat and early indica rice in the peak season was completed. According to statistics, 70.762 million tons of wheat were purchased in the main production area, a year-on-year increase of 20.61 million tons, including 7.397 million tons purchased by Hebei, a year-on-year increase of 2.699 million tons; 12.438 million tons purchased by Jiangsu, a year-on-year increase of 2.231 million tons; 10.699 million tons purchased by Anhui, a year-on-year increase of 5.374 million tons; 11.301 million tons purchased by Shandong, a year-on-year increase of 2.207 million tons; 20.273 million tons purchased by Henan, a year-on-year increase of 8.208 million tons. Hubei purchased 1617000 tons, an increase of 12000 tons on a year-on-year basis.

3.Future Market Forecast

According to the wheat analysts in SunSirs, the overall wheat purchase is faster than the same period of previous years, and the tradable grain source at the grass-roots level is slightly lower than the same period of last year. Under the support of the main body of grain storage trade that is reluctant to sell at a strong price, the wheat market price will continue to be stable, moderate and strong in the short term.

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