South African Agricultural Commodities Weekly Wrap

While the recent upward revision of South African grain and oilseed production estimates underscored the view that the country’s supplies are in good shape, the weaker Rand against the US Dollar and higher Chicago grain prices provided support to the market this week.
The largest gains were on white maize with the spot price up by 3 percent from last week. Yellow maize, wheat and soybeans were up by 2 percent compared to last week’s average prices. Meanwhile, sunflower seed was the only crop that closed the week on a negative footing.
Aside from this, there is not much happening in the grain and oilseed market. The harvest process has started in some areas and should gain momentum in the coming weeks as weather conditions are expected to be favourable.
The week ahead could be quiet as the calendar is light with only weekly grain trade and deliveries data due for release.
The SAFEX beef carcass market experienced a quiet week with prices unchanged from levels seen last week.

Read the full report by Wandile Sihlobo below: