According to the Commodity Market Analysis System of SunSirs, last week the domestic wheat market prices were slightly higher and stronger. The average price at the beginning of the week was 2,804.00 RMB/ton, while the average price at the weekend was 2,810.00 RMB/ton, a slight increase of 0.21%.

In August, typhoons caused frequent high temperature and rainy weather in China, coupled with a strong mentality of grain storage and trade entities to be reluctant to sell and support prices. The supply of wheat in the market continued to be tight, and downstream flour processing enterprises continued to raise prices to replenish their inventory, driving the overall price of domestic wheat market to slightly strengthen.

SunSirs wheat analysts believe that under the support of phased supply constraints, the domestic wheat market prices will continue to operate steadily in the short term.

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