According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices slightly weakened last week. The average price at the beginning of the week was 3,012.00 RMB/ton, while the average price at the weekend was 3,006.00 RMB/ton, a slight decrease of 0.20%.

In September, after the wheat price rose to a high level, the willingness of grain trading entities to sell grain increased. In addition, new season corn is about to enter the market, and some trading entities are vacating their warehouses. The available grain sources in the domestic wheat market have increased. Downstream flour enterprises have effectively replenished their wheat inventory and slightly lowered their purchase prices, driving the overall stable and weak operation of domestic wheat market prices.

SunSirs wheat analysts believe that the supply of wheat in the market is relatively strong, and in the short term, the domestic wheat market prices will continue to remain stable, moderate, and weak. Supported by the rebound in flour demand and the decreasing supply of high-quality surplus grain, there is limited room for future price drops in the wheat market.

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