Sunsirs: Wheat Price in Chinese Market was Adjusted Weakly Last Week (7.19-7.23)
July 26 2021 08:49:35 SunSirs (Linda)
1. Domestic wheat price trend
Last week, the overall price of domestic wheat market was slightly weak. The average price at the beginning of the week was 2552.00 yuan / ton, and the average price at the weekend was 2544.00 yuan / ton, a slight decrease of 0.31%.
2. Market analysis
In late July, the domestic flour terminal demand was still weak, the operating rate of flour processing manufacturers was low, and the domestic wheat market as a whole entered the situation of strong supply and weak demand. Meanwhile, the domestic corn price continued to fall in July, the substitution effect of wheat decreased, and the trade subject had a strong wait-and-see attitude, driving the domestic wheat market price to decline again.
3. Future forecast
New wheat is fully listed, the demand for flour continues to be weak, the price of corn has fallen comprehensively, and under the pressure of many bad news, there is still some room for decline in the domestic wheat market price in the short term.
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