Wheat prices in Hubei province hit 3,127 yuan per ton this week, up 12 yuan per ton compared to the previous week.
According to Hubei’s Ministry of Agriculture, the market has become more bullish on wheat, with flour millers bidding aggressively for reserve auction wheat which has driven up prices.
A relatively small auction of just 1750 tons of 2019 reserve wheat was all purchased by the market with the price rising to 245 yuan per ton higher than the reserve price.
Companies ...