SunSirs: China Wheat Prices Fluctuated downward Last Week (April 8-12)
April 16 2024 14:52:05 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, the domestic wheat market prices fluctuated downward last week. The average price at the beginning of the week was 2,722.00 RMB/ton, and the average price over the weekend was 2,698.00 RMB/ton, a decrease of 0.88% during the week.
In April, the domestic temperature gradually rebounded, and the demand for terminal flour became weaker. Downstream enterprises were more cautious in purchasing wheat, and their intention to purchase at a lower price did not decrease. At the same time, the price of Linchi corn remained weak, and the intention of grain trading entities to sell out increased. Policy wheat continued to be sold out, resulting in a continuous decrease in transaction volume and price. The overall supply and sales of domestic wheat in the market were cautious, and under the pressure of many negative factors, the price of domestic wheat continued to be weak and downward.
SunSirs wheat analysts believe that in the short term, the problem of strong supply and weak demand in the domestic wheat market will be difficult to alleviate, and the domestic wheat market prices will continue to operate under pressure.
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