1. Price Trend

According to data from SunSirs, the overall price of the domestic wheat market in November gradually stabilizes after a slight increase. The average price on November 1 is 2,370.00 RMB/ton, and the average price on November 29 is 2,394.00 RMB/ton, which rises by 1.01%.

2. Market Analysis

Entering November, the number of circulated grain sources at the grass-roots level is gradually decreasing, and the arrival of manufacturers continues to be low. Under the support of demand, manufacturers continue to raise wheat purchase prices, driving the domestic wheat market price to continue to run strongly.

Entering mid-November, the low processing profit of the flour industry led to a decline in manufacturers 'enthusiasm for price increases and stock replenishment. Some manufacturers slightly decrease their wheat price after the wheat stocks were replenished. After the price adjustment, the willingness of the main grain storage traders to go out of stock increases. Thereby, the wheat markets supply increase. And associated with the continuing export of wheat from policy, the overall supply of wheat in the market is sufficient. And it lacks in market drivers which can push wheat price increasing.  

Policy: The lowest purchase price on wheat trade fair was held on November 27. This fair plans to list and trade 30,237,35 tons of domestic wheat, with a turnover of 54,363 tons, a deal of 1.79, a maximum price of 2,370 RMB/ton, a minimum price of 2,250 RMB/ton, and an average transaction price of 2,331 RMB/ton. .

3. Market Forecasting

SunSirs' wheat analysts believe that: the market supply is relatively loose. And manufacturers are cautious in purchasing. Downstream flour demand is not busy in the peak season. Although the policy is supporting wheat at the bottom, short position holders are gambling. The overall wheat market price is in dilemma. It is expected that the domestic wheat market price in December will continue slightly ahead of the current level.

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