South African Agricultural Commodities Weekly Wrap

Deidre Carter — Fri, 13 Jul 2018 09:02:48 +0000

The weather continues to be the key focus in the domestic market for both summer and winter crop growing areas. Earlier in the week, there was an overcast across the country, which raised concerns of possible harvest delays, but that has now cleared over most summer crop areas. This means the harvest process could continue with minimal interruptions over the next couple of weeks.
The winter crop growing areas of the Western Cape province could receive some rain this weekend into early next week, which should improve soil moisture and crop conditions.
These factors, coupled with the slight recovery of the domestic currency against the US Dollar and lower Chicago grain prices added a bearish sentiment to the market, hence keeping most commodities prices under pressure.
Looking ahead, the data calendar for next week is fairly light, which means the weather will remain prominent.
Apart from grain and oilseed markets, the SAFEX beef carcass market experienced a quiet week due to thinly traded volumes. The prices remained unchanged from levels seen last week.

Click HERE to read the full report by Wandile Sihlobo

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