SunSirs: Strong Supply and Weak Demand, China Wheat Prices Sustained Weak
March 20 2024 15:52:41 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices have been weak this week. The average price at the beginning of the week was 2,766.00 RMB/ton, and the average price over the weekend was 2,760.00 RMB/ton, a decrease of 0.22% during the week.
In mid March, due to the impact of the low consumption season of terminal flour demand, the operating rate of manufacturers has decreased. After completing the acquisition task, the purchase price of wheat has been continuously lowered. In addition, the policy of wheat continuous outflow to ensure stable supply and price, as well as the continuous arrival of imported wheat to Hong Kong, has led to a loose supply situation in the domestic wheat market, and the overall pressure on the domestic wheat market prices is weak.
The wheat analyst from SunSirs believes that flour companies have sufficient wheat inventory, and the demand for terminal flour continues to be weak. The wheat market supply is relatively sufficient, and in the short term, the domestic wheat market prices will continue to be under pressure, stabilizing at a moderate to weak level.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-24 SunSirs: China Wheat Prices Fluctuated Downward Last Week (April 15-19)
- 2024-04-07 SunSirs: China Wheat Market Fluctuated, with an Overall Decline of over 5% in the First Quarter of 2024
- 2024-04-03 SunSirs: China Domestic Wheat Prices Fluctuated and Declined in March
- 2024-03-26 SunSirs: China Wheat Prices Remained Weak Last Week (March 18-22)
- 2024-03-07 SunSirs: CBOT Wheat Futures Closed Lower on March 6
