SunSirs: China Wheat Prices Fluctuated strongly Last Week (September 11-15)
September 18 2023 14:34:46 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, last week the domestic wheat market experienced a strong price shock. The average price at the beginning of the week was 3,002.00 RMB/ton, while the average price at the weekend was 3,012.00 RMB/ton, a slight increase of 0.33%.
In mid September, some enterprises' wheat inventory has decreased, coupled with the decreasing availability of high-quality surplus grain in the market. Flour enterprises have once again started to raise prices to replenish inventory, driving strong price fluctuations in the domestic wheat market.
SunSirs wheat analysts believe that overall, the demand for terminal flour is less than expected. Enterprise price increases and restocking have driven the wheat market to operate at a stronger price. After the enterprise's wheat inventory is replenished, the wheat purchase price will be lowered again. The domestic wheat price continues to rise without sufficient momentum, and it is expected that the domestic wheat market price will continue to operate at the current level in the short term.
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