SunSirs: Agriculture: The Price of Wheat Gains Stable This Week (November 18-22)
November 25 2019 08:22:41 SunSirs (Daisy)
1. Price Trend
As per data from SunSirs, this week’s domestic wheat market has a stably increasing trend. The average price at the beginning of the week is 2,394.00 RMb/ton, and the average price at weekend is 2,396.00 RMB/ton, with a slight increase at 0.08%.
2. Market Analysis
With the supports from manufacturers who continue to increase the price and to offer supplement, the domestic wheat market price in November is generally stable and strong. The arrival amount of wheat in the factory has gradually increased. After the stock has been replenished, some manufacturers have slightly lowered the wheat purchase price this week. The overall price increase of the domestic wheat market turns stable. The slight decline in wheat prices has led to a slight increase in the willingness of the grain traders to sell their inventory, which will form certain suppression on the market price of the wheat market.
Policy: The minimum purchase price of wheat trade fair held on November 20th plans to store 3,023,739 tons of wheat, settled down at 50,958 tons, with a turnover of 1.68%. The highest price is 2,380 RMB/ton, the lowest price is 2,290 RMB/ ton and the average transaction price is 2,326 RMB/ton.
3. Market Forecasting
The wheat analyst of SunSirs believes that manufacturers will lower the purchase price. The willingness of trade entities of increasing their outbound will be strengthened. Under political issues, the turnover rate of wheat continues to be low, showing short- position gambling. In the short term, the price of domestic wheat will be limited in the current level, with slight room for either increasing or decreasing.
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