SunSirs: Wheat Prices Fell Slightly This Week (May 9-13)
May 16 2022 08:57:42 SunSirs (John)Price trend
According to the monitoring of SunSirs, the domestic wheat market price was weak this week. The average price at the beginning of the week was 3,162.00 RMB/ton, and the average price at the weekend was 3,152.00 RMB/ton, a slight decrease of 0.32%.
Analysis review
In the middle of May, the new season wheat entered the market in some areas, and the trade entities had a strong wait-and-see attitude. The auction transaction of the old wheat from the State Reserve declined sharply. The downstream flour enterprises lowered the purchase price of wheat one after another, which drove the overall domestic wheat market price to continue to decline.
Market outlook
The wheat analyst of SunSirs believes that the new wheat is listed, and the reluctance of the grain traders to sell is loosened. The manufacturers have lowered their purchase prices, and the tight supply in the wheat market has eased. It is expected that the domestic wheat market price will still have some room for decline in the short term.
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