Price trend

According to the commodity market analysis system of SunSirs, the price of domestic wheat market this week was weak as a whole and stabilized, and then moved forward with slight shocks. The average price at the beginning of the week was 2,868.00 RMB/ton, and the average price at the weekend was 2,868.00 RMB/ton, which remained unchanged throughout the week.

Analysis review

In April, the domestic wheat market price continued to be weak. After the wheat price fell sharply, the role of feed substitution gradually strengthened. Some feed enterprises began to purchase wheat. In addition, the enterprises directly under the Central Storage Grain Corporation started to purchase wheat. With the support of demand, the confidence of the wheat market was boosted to a certain extent, and the overall weakness of the domestic wheat market price stabilized this week.

Market outlook

The wheat analysts of SunSirs believe that: the demand for terminal flour is still low, the pig price continues to be weak, and the substitution effect of wheat for feed is limited as a whole. In the short term, the problem of strong supply and weak demand in the wheat market still exists, and the overall recovery momentum of the wheat market price is insufficient. It is expected that the domestic wheat market price will continue to fluctuate slightly at the current level in the short term.

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