Support by government policy, China new wheat price moved up slightly

By CnAgri2012-07-10 13:06:51 Print

Support by government policy, domestic new wheat price moved up slightly, delivered price of imported wheat rose greatly. The price difference was narrowed apparently. Competition of imported wheat was declined.

Futures market: Influenced by MOA announcement on production increase, domestic futures price continuously declined. BOABC considers that the current futures price was at the bottom and will increase in later period. International futures price kept rising, suppressed wheat import.

In conclusion, there is no much gap during this year. Import depends on price difference home and abroad.

From "China Grains Market Weekly Report"