1. China's domestic wheat price trend
Last week, the overall domestic wheat market prices rebounded slightly. The average price at the beginning of the week was RMB 2500.00/ton, and the average price at the weekend was RMB 2510.00/ton, a slight increase of 0.40%.
2. Market analysis
In June, the wheat harvesting started. As the harvesting progress accelerated, the purchasers gradually increased. Last week, the domestic wheat purchase price was in a stable and upward state, and the domestic wheat market price rebounded slightly after the overall decline.
3. Market outlook
With the gradual increase in the quantity of wheat on the market, the supply of wheat in the market will become more relaxed, and the domestic wheat prices will continue to rise with insufficient momentum.