Price trend

According to the monitoring of SunSirs, the domestic wheat market price fell in an all-round way this week. The average price at the beginning of the week was 3,180.00 RMB/ton, and the average price at the weekend was 3,024.00 RMB/ton, down 4.91% during the week.

Analysis review

Entering April, the reappearance of the epidemic in many places has restricted the transportation of domestic flour. In addition, the demand for flour has continued to decline after entering the off-season, and the domestic wheat market trade has declined. The transaction volume and price of wheat in the State Reserve fell, and the willingness of enterprises to purchase continued to decline. The continuous reduction of the purchase price of wheat drove the overall decline in the domestic wheat market price.

Market outlook

The wheat analyst of SunSirs believes that: after entering the off-season, the terminal flour demand is even more sluggish, downstream manufacturers are cautious in purchasing, and have a strong wait-and-see attitude. After the price of wheat fell, the willingness of trade entities to leave the warehouse increased significantly, and the domestic wheat market was in sufficient supply. In addition, the state-stored wheat continued to be released from the warehouse to ensure a stable price, and the market supply and demand relationship gradually changed. It is expected that the domestic wheat market price will continue to fall in the short term.

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