SunSirs: China Wheat Prices Remained Stable and Advanced Last Week (November 6-10)
November 14 2023 14:24:59 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices were weak and stabilized last week, with an average price of 2,988.00 RMB/ton at the beginning of the week and 2,888.00 RMB/ton at the end of the week. Overall, they remained stable and moving forward.
In November, the main focus of trade entities is still on corn trade. In addition, due to the impact of rainy and snowy weather in many places, the domestic wheat market volume continues to decline. Grain storage trade entities have a strong mentality of being reluctant to sell and price fixing, and the overall price of domestic wheat market is weak and stable.
SunSirs wheat analysts believe that high-quality and tradable surplus grain is gradually decreasing, terminal flour is still lukewarm and not hot, and the market is playing a long short game. In the short term, the domestic wheat market prices are facing a dilemma of rising and falling, and will continue to operate at the current level of slight consolidation.
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