SunSirs: Wheat Prices Fell Slightly This Week (June 6-10)
June 13 2022 10:15:48 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the domestic wheat market price fell slightly this week. The average price at the beginning of the week was 3,136.00 RMB/ton, and the average price at the weekend was 3,088.00 RMB/ton, down 1.53% during the week.
Analysis review
Entering June, with the full launch of new wheat and the continuous delivery of wheat from the warehouse to supplement the market supply in the previous period, the domestic wheat market was seamlessly connected with the new and the old, and the domestic wheat market supply continued to increase. In addition, the demand for terminal flour in summer has declined, and the wheat market price in the high-opening areas has gradually declined as a whole. This week, the domestic wheat market price fell slightly by 1.53%.
Market outlook
The wheat analyst of SunSirs believes that the price of corn has dropped slightly, the substitution effect of wheat for feed has declined again. The wheat market is seamlessly connected, the overall market supply is sufficient, and the downstream demand for flour continues to be sluggish. In the short term, the domestic wheat market price still has some room to fall.
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