SunSirs: China Wheat Price was High and Strong in November

According to the monitoring of SunSirs, the domestic wheat market price in November was high and strong. The average price on November 1 was 3,118.00 RMB/ton, and the average price on weekends was 3,168.00 RMB/ton, up 1.60% in the month.

In November, affected by the epidemic situation and rainfall in some regions, the trade volume of domestic wheat market declined, and the arrival of wheat by downstream enterprises decreased. To stimulate the arrival of wheat, some regions slightly raised the purchase price of wheat at the beginning of the month, driving the overall high price of domestic wheat market to slightly stronger operation.

Affected by the sluggish demand for terminal flour, the purchase price of wheat was slightly lowered after the manufacturer's wheat inventory was supplemented to a certain extent, and the wheat market price fell slightly. In the middle of November, the overall domestic wheat market price rose to a high level and moved forward.

In late November, the overall wheat transportation capacity was tight, and the wheat market supply was tight again. In addition, the terminal flour demand picked up slightly after the weather turned cold, and the market mentality of the main players of grain storage trade remained unchanged after the bullish. The overall domestic wheat market price continued to operate at a high level and strong in China.

SunSirs wheat analysts believe that the domestic wheat market price will continue to be strong in the short term under the support of the short-term short-term tight supply. In general, the domestic wheat stock is sufficient, the downstream flour demand is stable, the overall supply and demand of the wheat market is relatively balanced, which is difficult to support the future wheat price to continue to rise, and the overall acceptance of the high price wheat terminal market is poor. It is expected that China domestic wheat market price will rise to 3,180 RMB/ton in December, and then move forward with a small shock.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.