SunSirs: Wheat Prices Were on the Weak Side This Week (May 23-27)
May 30 2022 12:07:56 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the domestic wheat market price fell slightly this week, and the overall operation continued to be weak. The average price at the beginning of the week was 3,146.00 RMB/ton, and the average price at the weekend was 3,138.00 RMB/ton, a slight decrease of 0.25%.
Analysis review
In late May, the domestic new season wheat was listed one after another. With the continuous increase in the listing of new wheat, coupled with the continued sluggish demand for terminal flour, the problem of strong market supply and weak demand increased, and the domestic wheat market price fell slightly.
Market outlook
The wheat analyst of SunSirs believes that the market volume of new wheat continues to increase, new and old wheat are seamlessly connected, and the supply of wheat in the wheat market continues to rise. In the short term, the domestic wheat market price will continue to be under pressure and weakly adjusted. On the whole, international grain prices remain high, domestic corn prices remain high, trade entities continue to be optimistic about the market outlook, and there is limited room for overall decline in wheat market prices.
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