SunSirs: China Wheat Prices Fluctuated Downward Last Week (April 15-19)
April 24 2024 16:02:48 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, the domestic wheat market prices continued to fluctuate and decline last week. The average price at the beginning of the week was 2,694.00 RMB/ton, while the average price over the weekend was 2,686.00 RMB/ton, a slight decrease of 0.30%.
Entering mid April, as the temperature gradually rose, the demand for terminal flour became even lower, and enterprises became more cautious in purchasing wheat. In addition, policy wheat continued to be exported, and the price of Linchi corn remained weak. The expectation for a bumper harvest of new wheat was sufficient, and the intention of grain trading entities to sell out did not decrease. Under the pressure of strong market supply and weak demand, the domestic wheat market prices continued to be under pressure and operated weakly.
The wheat analyst from SunSirs believes that the loose supply situation in the domestic wheat market is difficult to alleviate in the short term, and the domestic wheat market prices will continue to operate under pressure, with a stable to weak trend.
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