According to the Commodity Market Analysis System of SunSirs, the overall domestic wheat market price fluctuated and moved forward in October. On October 1st, the average price was 3,016.00 RMB/ton, and on October 31st, the average price was 3,000.00 RMB/ton, a decrease of 0.53% during the month.

In October, corn from Northeast China's production areas has been listed one after another, and many trading entities have turned their attention to the trade of new season corn. The domestic wheat market has gradually become less traded, coupled with the basic end of summer grain purchases. The high-quality and tradable grain sources in the domestic wheat market are gradually decreasing. Downstream flour enterprises have raised prices to ensure production and replenish inventory, and the mentality of grain storage trading entities is not reduced, supporting the high and strong price fluctuations in the domestic wheat market. In the middle of the year, due to the significant decline in corn prices, the intention of grain trading entities to liquidate their exports increased, and there was a brief decline in wheat market prices.

After the weather turned cold, the demand for terminal flour gradually rebounded, coupled with the decreasing support of high-quality and tradable surplus grain in the domestic wheat market, the wheat market price gradually weakened due to the lower corn price in Linchi, and overall continued to fluctuate at high levels.

SunSirs wheat analysts believe that the demand for terminal flour is stable, high-quality and tradable grain sources are gradually decreasing, and the mentality of grain trading entities is not decreasing. It is expected that the domestic wheat market prices will continue to fluctuate slightly in November.

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