According to the commodity market analysis system of SunSirs, the domestic wheat market prices were weak last week. The average price at the beginning of the week was 2,836.00 RMB/ton, and the average price over the weekend was 2,824.00 RMB/ton, a decrease of 0.42% during the week.

Due to the sustained and significant decline in corn prices in Linchi, some grain trading entities have seen an increase in post market sentiment, and their intention to liquidate their exports continues to increase. In addition, this week, temporary storage wheat and reserve wheat continue to enter the market circulation link, leading to a slight rebound in the overall supply of domestic wheat market. The overall demand for terminal flour has remained stable, and after completing the acquisition task, enterprises have slightly lowered their wheat purchase prices, resulting in a slight decline in the overall price of domestic wheat market.

SunSirs wheat analysts believe that in the short term, under strong supply and weak demand pressure, the domestic wheat market prices will continue to operate under pressure.

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