Wudeli, a major Chinese flour miller, posted November 13 quotes for by-products: wheat bran at 1,394-1,524 yuan/ton, fine bran at 1,424-1,544 yuan/ton, coarse bran at 1,464-1,524 yuan/ton, 3.0-ash second-grade flour at 2,084-2,144 yuan/ton and 1.3-ash standard flour at 2,614-2,654 yuan/ton. Milling plants are running at average rates and downstream buying is steady, with prices described as stable to slightly lower.
Wheat middlings and bran are feed inputs, and soft by-product prices in China reduce the cost of wheat-based feed while signalling weak mill demand. The price pressure is modest and mainly affects domestic Chinese feed ingredient pricing.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.