SunSirs: Chinese Wheat Prices Fluctuate Forward Last Week (6.21-6.25)
June 28 2021 08:38:26 SunSirs (Linda)
1. Domestic wheat price
Chinese domestic wheat market price rose slightly last week and then dropped slightly, and the overall relatively high level fluctuated forward. The average price at the beginning of last week was 2554.00 yuan/ton, and the average price at the weekend was 2564.00 yuan/ton, a slight increase of 0.39%.
2. Market analysis
Entering the end of June, with the end of the wheat harvest in North China, the domestic wheat market has gradually increased in volume. In addition, the domestic wheat market supply has continued to increase, and the domestic wheat market price has risen slightly this week. .
Last week, domestic hog prices rebounded slightly after a weak stabilization, the aquaculture industry was still at a low level, corn prices continued to fall, and the demand for feed wheat declined. Flour companies have relatively sufficient stocks of wheat, and downstream demand for flour continues to be sluggish. As the quantity of wheat arrivals continues to increase, companies have subsequently lowered their purchase prices slightly.
3. Market outlook
The wheat analyst believes that the new grain is fully listed, the supply of wheat continues to increase, and the overall price of wheat is under pressure to fall back. It is expected that there will still be some room for a fall in the short term.
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