SunSirs: Wheat Price Was Running to Be Weaker This Week (February 13-17)
February 22 2023 14:07:50 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the domestic wheat market price continued to be weaker this week. The average price at the beginning of the week was 3,114.00 RMB/ton, and the average price at the end of the week was 3,104.00 RMB/ton, a slight decrease of 0.32%.
Analysis review
In the middle of February, the supply of domestic wheat market was relatively loose, the demand of terminal flour continued to be low, and the intention of trading entities to cash out of the warehouse increased. The overall volume and price of policy wheat auctions fell this week. Under the pressure of strong market supply and weak demand, the overall price of domestic wheat market continued to be weaker.
Market outlook
According to the wheat analyst of SunSirs, the wheat in the market and the rotation grain in various regions had been delivered out in succession, the domestic grain trading entities had increased their intention to cash out, and strong supply and the weak demand in the market was difficult to change. In the future, the price of domestic wheat market will continue to be weaker under pressure.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
- 2024-04-24 SunSirs: China Wheat Prices Fluctuated Downward Last Week (April 15-19)
- 2024-04-07 SunSirs: China Wheat Market Fluctuated, with an Overall Decline of over 5% in the First Quarter of 2024
- 2024-04-03 SunSirs: China Domestic Wheat Prices Fluctuated and Declined in March
- 2024-03-26 SunSirs: China Wheat Prices Remained Weak Last Week (March 18-22)
- 2024-03-20 SunSirs: Strong Supply and Weak Demand, China Wheat Prices Sustained Weak
