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Apr 3, 2018
One factor that we are watching closely over the long weekend is weather as it could still affect the soybean crop, both late-planted and on-time-planted areas. In the last week of March 2018, there were fears that the rainfall could cause crop damage, as a large part of the crop has already matured.
Apr 4, 2018
The South African wheat market had a good run at the start of this week and settled in positive territory. This was mainly underpinned by the weaker Rand against the US Dollar, as well as higher Chicago wheat prices.
Apr 5, 2018
If the forecast rainfall within the next eight days materialises, then the expected warm conditions in two weeks’ time will be a much-needed breather, particularly for areas that planted on time or earlier in the season. The crop is currently in good condition and could show further improvement in the coming weeks.
Apr 6, 2018
Trade aspects remain an important factor in the market as South Africa is a net importer of wheat. The wheat import tariff has triggered again on 20 March 2018 to R293.74 per tonne. The previous trigger was on 13 February 2018, which then, was calculated at R394.85 per tonne.
Apr 9, 2018
One of South Africa’s key objectives behind the expansion of the soybean crushing plants was import substitution of soybean oil and oilcake. The country has made notable progress on both products as imports have been on a decline in the past few years due to increasing domestic production.
Apr 9, 2018
South Africa’s wheat import tariff has been revised to R394.85 per tonne, which is a 45% decline from the previous rate of R716.33 per tonne. This new duty was calculated on the 13 February 2017 following an upsurge of the international wheat prices.