SunSirs: China Wheat Prices Fluctuated weakly Last Week (November 13-17)
November 22 2023 09:55:02 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices fluctuated slightly and weakly last week. The average price at the beginning of the week was 2,988.00 RMB/ton, while the average price at the weekend was 2,982.00 RMB/ton, a slight decrease of 0.20%.
In mid November, as the impact of rain and snow gradually faded, the supply of domestic wheat market slightly rebounded. Due to the suppression of lower than expected terminal demand, downstream flour enterprises slightly lowered the wheat purchase price after completing the acquisition task, and the overall pressure on domestic wheat market prices was weak.
SunSirs wheat analysts believe that the peak season of flour demand is not strong, and the overall operating rate of flour enterprises is low. The wheat market has entered a stage of strong supply and weak demand, and in the short term, the domestic wheat market prices will continue to be under pressure, stable, and weak.
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