Wheat prices in Hubei were up 13 yuan per ton over the last week following the national auction of reserve wheat. The market expected these to be bearish with more supply being released to the market. That auction saw 53% of the listed volume purchased, with the 2017 and 2018 crop-year wheat all being purchased by the market.
Provincial wheat auctions in Hubei also saw strong results, with a total of 50.2k tons of 2022-2024 wheat being listed, and 87% of it being purchased by the market. Prices ...