The weaker Rand against the US Dollar led to widespread gains in the South African agricultural commodity markets this week. The higher Chicago grain and oilseed prices also provided support to the domestic market.
The notable gains were on maize with the spot price for both white and yellow up by an average 5% compared to the previous week. The oilseed market was up by an average 3% this week. For the second consecutive week, the fruits and vegetables have been fairly volatile with daily stock levels underpinning the market.
The SAFEX beef carcass market seems to be stabilising after the 2015-16 drought. Slaughtering activity has improved from the previous month. With that said, SAFEX beef market ended the week in positive territory.
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