Chinese Hulled Millet: The Short-Term Market Stalemate in Buying and Selling

DALIAN: This week, the transaction volume in the millet market was low, and some rice factories were shut down for holidays. The operators continued to quote last week. Before the Spring Festival, millet did not have centralized replenishment, the rice factory had insufficient orders, and some of the holidays were about a week earlier than last year. The operator Xiaomi has executed the final order, and the quotation has not been adjusted.

More than 60% of the grain sources are at the grassroots level in most production areas, and there is an appropriate amount of inventory in the intermediate links. In addition, the old grain was carried over from last year, and the market supply pressure is obvious. The week before and after the Spring Festival, the millet market was deserted, and most wholesalers were closed. The operating rate of rice factories has declined, and most of them have been suspended for holidays. They will be replenished after the Spring Festival according to the order situation. In the first half of the twelfth lunar month, farmers are actively shipping goods, and in the latter half of the year, the Spring Festival is approaching, and there is no intention to sell grain at the grassroots level. Due to weak downstream demand, most grain merchants stopped harvesting and holiday and opened as early as the sixth day of the first lunar month. The new orders for rice factories are insufficient, and some of them have an earlier holiday than in previous years. After the Spring Festival, the opening time will be flexibly determined according to demand, and some of them still have an appropriate amount of raw grain inventory. In the short term, before and after the Spring Festival, there is a stalemate in market purchases and sales, and changes in weather, logistics, and the epidemic have little effect on the market.

Current Market Price in FOB China for Chinese Hulled Millet