According to the Commodity Market Analysis System of SunSirs, the overall price of domestic wheat market fluctuated and declined in April 2024. On January 1st, the average price was 2,724.00 RMB/ton, and on April 30th, the average price was 2,616.00 RMB/ton, a decrease of 3.96% within the month.

In April, the domestic temperature gradually rebounded, the demand for terminal flour became weaker, and downstream enterprises became more cautious in purchasing wheat. After completing the acquisition task, enterprises continuously lowered the purchase price of wheat. In addition, the price of corn in Linchi continued to be weak, and the intention of grain trading entities to sell out increased. At the same time, policy wheat continued to be sold out, and the trading volume and price continued to decrease. The domestic wheat market supply continued to be loose, and the overall downstream purchase and sales became more cautious. Under the pressure of many negative factors, the domestic wheat market prices continued to be weak and downward.

The wheat analyst from SunSirs believes that domestic grain prices continue to decline, and the intention of grain storage and trade entities to liquidate their exports remains unchanged. The demand for terminal flour remains sluggish, and policy wheat continues to be exported. Imported wheat continues to arrive in Hong Kong, and the expectation of a high yield of new season wheat is sufficient. Under the pressure of many negative factors, the domestic wheat market prices are weak and difficult to improve in the short term. It is expected that the domestic wheat market prices will continue to operate at a low level in May.

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