SunSirs: China Wheat Prices continued to rise Last Week (August 7-11)
August 15 2023 13:57:27 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices rose comprehensively last week. The average price at the beginning of the week is 2,822.00 RMB/ton, and the average price at the weekend is 2,856.00 RMB/ton, with a weekly increase of 1.20%.
In August, due to the impact of heavy rainfall caused by the typhoon, the overall purchase and sales of domestic grain trade were limited. The weakening of expectations for high autumn grain yields helped push up the price of corn in Linchi. The quality differentiation of wheat was severe, and the mentality of grain storage trade entities to be reluctant to sell and support prices became stronger. Supported by factors such as price hikes and restocking by flour mills, the domestic wheat market prices rebounded comprehensively last week.
SunSirs wheat analysts believe that with the support of many positive factors, it is expected that the domestic wheat market prices will continue to operate steadily in the short term.
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