SunSirs: China High Wheat Price moved Forward Last Week
November 16 2022 08:39:11 SunSirs (Selena)
According to the monitoring of SunSirs, the domestic wheat market price rose last week and then fell back slightly, moving forward with a slight shock. The average price at the beginning of the week was 3,146.00 RMB/ ton, and the average price at the weekend was 3,152.00 RMB/ ton, up 0.19%.
In November, affected by the epidemic situation and rainfall in some areas, the wheat market circulation turned weak as a whole, and the arrival of wheat from downstream enterprises decreased. Some enterprises raised prices to supplement the warehouse, driving the overall high price of domestic wheat market to operate stably, moderately and strongly. Affected by the sluggish demand for terminal free, the manufacturer's wheat inventory was supplemented to a certain extent, and then the purchase price of wheat was slightly lowered again. The wheat market price fell back slightly. Last week, the overall domestic wheat market price was high and moved forward.
The wheat analysts of SunSirs believe that the overall supply and demand of the domestic wheat market is stable, the demand for terminal flour is still low, and the domestic wheat market has sufficient supplies of tradable grain. The main body of grain storage trade is reluctant to sell at a high price. It is a game between long and short. In the short term, the domestic wheat market price is in a dilemma of rising and falling, and the overall price will continue to fluctuate at a high level.
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