Wheat market purchasing and sales will become more active, while soybean prices in producing areas will continue to rise

Wheat market purchasing and sales will become more active As the main-body role of market-supporting enterprise purchasing in the market gradually becomes evident. After market-supporting purchasing in various regions enters normal operation, since enterprises with market-supporting purchasing qualifications have strong financial backing, they will become the main purchasers in the later market. Other purchasing entities, feeling that the policy has been settled, will also enter the market to purchase one after another under the impetus of market-supporting purchasing. Wheat market purchasing and sales will become more active, and their purchasing progress will gradually accelerate. Ordinary wheat prices in the main producing areas will still continue to float upward, though after rising to the minimum purchase price level they may tend to stabilize. It is expected that new wheat prices will run between 1.18-1.24 yuan/jin.

Soybean price increases in producing areas remain weak At present, the soybean market in producing areas is finding it difficult to break this situation of prices existing without sales and sluggish purchasing and sales, mainly affected by weak demand, and large quantities of imported soybeans are impacting the domestic soybean market and will inevitably have a certain substitution effect on domestic soybeans. At the same time, affected by the macroeconomic situation, consumption is relatively sluggish, feed prices are moving lower, and soybean price increases remain weak. Affected by precipitation, the pace of soybean planting in the United States is slow, and the monthly report released by the United States Department of Agriculture has also successively lowered the ending stocks of soybeans in the United States and globally. CBOT soybeans rose under this influence, and in the later period continued attention should be paid to rainfall conditions in the Midwestern United States.