SunSirs: China Wheat Prices fluctuated slightly Last Week (June 5-9)
June 14 2023 10:23:04 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices fluctuated slightly last week. The average price at the beginning of the week was 2,784.00 RMB/ton, while the average price at the weekend was 2,790.00 RMB/ton, a slight increase of 0.22%.
In June, affected by the rainfall in the earlier production areas, a large number of malted wheat entered the market and entered the market circulation link. The price of old wheat fell under pressure as a whole. Affected by the overall uneven quality of the current wheat market, the downstream flour manufacturers raised prices to supplement stocks to support the slightly stronger operation of the price of high-quality wheat market last week.
Business Society wheat analysts believe that after policies drive grain depots in various regions to purchase malt, feed enterprises and trading entities have a stronger willingness to purchase, and malt prices have been strongly supported. As ordinary wheat gradually enters the market, the connection between new and old wheat is orderly, and the domestic wheat market prices are gradually returning to rationality. It is expected that in the short term, the fluctuation space of the domestic wheat market prices will be limited, and the overall situation will be at the current level with a small consolidation operation.
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