New wheat procurement progress is slow, prices are low

The current domestic new wheat procurement market shows a "slow volume, low price" pattern. Under a high-inventory pattern, the support from policy-based procurement has weakened noticeably, and the effect of policy-based procurement squeezing the market is unlikely to appear. The extended procurement period has flattened the wheat price trend. Wheat prices may overall be in a lukewarm trend, and under the dominance of a loose supply-demand pattern, they are likely to mainly run stable to slightly weak. This year's summer grain procurement saw relatively high enthusiasm among grain-selling entities, while market entities showed relatively low purchasing enthusiasm, making the circulation market's "buyer's" pattern fairly obvious. Both the direction and volume of grain flows are constrained to a relatively large degree, and both policy-based procurement and market procurement are relatively weak.