Price trend

According to the monitoring of SunSirs, the price of domestic wheat market fluctuated downwards this week. The average price at the beginning of the week was 3,088.00 RMB/ton, and the average price at the weekend was 3,078.00 RMB/ton, a slight decrease of 0.32%.

Analysis review

In mid-June, wheat in the main producing areas was fully listed, and the supply of wheat in the wheat market continued to increase. In addition to the successive release of policy wheat from the warehouse in the previous days, the overall supply of the domestic wheat market became more and more loose. The domestic wheat market price was under pressure as a whole, with weak fluctuating to be downward.

Market outlook

The wheat analyst of SunSirs believes that: the terminal demand continues to be sluggish, the overall supply of the wheat market is loose, and the domestic wheat market price still has some room to fall in the short term. On the whole, international grain prices are still high, domestic trade entities continue to be optimistic about the market outlook, and farmers who store grain are reluctant to sell and keep prices high. In the future, domestic wheat prices have limited room for overall decline.

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