Wheat market recovery period expected to be extended

Wheat market recovery period expected to be extended or prolonged Recently, flour processing enterprises in southern sales areas have resumed normal production, but due to ample wheat supply in the market, prices have mostly remained stable. According to some flour milling enterprises and traders, this year's post-holiday wheat flour market conditions differ from last year, with the market basically continuing the pre-holiday pattern of strong supply and weak demand. Although the wheat market has recovered somewhat, the overall improvement in buying and selling conditions has not been significant, and the market expects that this year's post-holiday wheat market recovery period may be extended.

Goldman Sachs: Soybean prices seen falling over the next year According to an investment research report released by investment bank Goldman Sachs Group, the agricultural commodity market may perform the worst among commodity markets over the next year. It is expected that grain and soft commodity prices may fall by 7.5% over the next year, among which soybean futures prices will fall to 8.75 USD per bushel, nearly 1 USD lower than the price currently expected by investors; corn futures prices will fall to 3.75 USD per bushel, below last Friday's closing price of 4.1375 USD per bushel for the March 2016 corn contract. However, Goldman Sachs expects the CBOT soft red winter wheat price to be at 5.30 USD per bushel over the next three months, while investors expect wheat prices to reach this level only by the end of 2015.