Price trend

According to the commodity market analysis system of SunSirs, the domestic wheat market price continued to decline in a weak direction this week. The average price at the beginning of the week was 2,848.00 RMB/ton, while the average price at the weekend was 2,818.00 RMB/ton, with a decrease of 1.05% during the week.

Analysis review

In May, the demand for terminal flour was still low, the operating rate of flour enterprises continued to be low, and the demand for wheat market was even weaker. In addition, new wheat was about to enter the market. Trade subjects continued to be bearish on the future market, and the abortive auction of policy wheat was increasing. The overall pessimism of the domestic wheat market was strong. Under the pressure of many bad news, the domestic wheat market price continued to decline in a weak direction.

In May, the price of live pigs continued to fluctuate at a low level, the market of breeding industry continued to be depressed, and the overall demand for wheat feed was limited. In addition, the continuous weakness of corn price also suppressed the price of domestic wheat market.

Market outlook

Wheat analysts from SunSirs believe that: there are a lot of bad news. In the short term, the domestic wheat market price will continue to be weaker.

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