An update for the week ending 11 September 2017 shows that dams averaged 35% in the Western Cape province, which is a one-point improvement from last week, but 27 points lower than the corresponding period in 2016.
Highlights in today’s morning note
The wheat crop is generally not in good shape due to persistent dryness in the Western Cape Province. The Overberg and Southern Cape regions region received showers of between 10 and 20 millimetres. The Swartland region remained cool and dry, which is not conducive for crop development.
This week’s maize calendar is fairly light with only weekly grain trade and deliveries data due for release. Apart from that, the focus in the South African maize market is shifting towards the new production season.
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The data calendar for this week is again light, and it is an off-season period with not much activity in the fields. Therefore, market performance will largely be guided by the Chicago soybean price and domestic currency movements within the next few days.
It is still an off-season period in the South Africa’s sunflower seed market and this week’s calendar is light with no major data releases. Therefore, the market will again be driven by the domestic currency movements and traded volumes in the local market.
The South African potatoes market lost ground on Friday’s trade session with the price down by 3.74% from the previous day, closing at R32.71 per pocket (10kg). These losses were on the back of large stocks of 1.14 million pockets (10kg bag) at the start of the session.
The fruit market ended the day mixed during Friday’s trade session. The prices of apples and bananas were up by 3% and 4% from the previous day, closing at R7.60 per kilogramme and R6.18 per kilogramme, respectively. Meanwhile, the price of oranges fell by 21% from the previous day, closing at R3.35 per kilogramme.