Highlights in today’s morning note
The weather remains a primary focus in the domestic wheat market. Unfortunately, there has not been any improvement over the past few days. The light showers that were received in some parts of the Western Cape were not sufficient to replenish soil moisture.
This is a data-packed week, with the National Crop Estimates Committee’s final maize production estimates, SAGIS monthly and weekly data due for release. Any major changes in these particular data points could lead to notable movements in the maize markets.
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On 28 September 2017, the National Crop Estimates Committee will release its final soybean production estimates for 2017. The current estimate is 1.32 million tonnes, up 77% from the previous season’s production.
This week the National Crop Estimates Committee will release its final sunflower seed production estimates for 2017. The current estimate is 870 095 tonnes, up by 15% from the previous season.
The South African potatoes market had a good run during Friday’s trade session with the price up by 1% from the previous day, closing at R34.96 per pocket (10kg). This was partly on the back of strong commercial buying interest.
The fruit market ended the day mixed on Friday’s trade session. The prices of apples and oranges were up by 0.4% and 54.3% from the previous day, closing at R7.51 per kilogramme and R3.98 per kilogramme, respectively. Meanwhile, the price of bananas fell by 12.6% from the previous day, closing at R5.20 per kilogramme.