South African Agricultural Commodities Weekly Wrap
South African agricultural commodity markets were under pressure this week, owing to a combination of factors with key ones being the stronger Rand against the US Dollar, as well as a favourable weather outlook for the new season crop.
Notable losses were on the maize market, an average of 3% down from the previous week’s levels. The aforementioned factors and domestic selling pressure were the key drivers of the market.
The wheat and oilseeds market saw marginal losses, closing in negative territory as the impact of the stronger Rand against the US Dollar continued to dominate the market.
For fruits and vegetables, the week has again been fairly wobbly with daily volumes/stock levels underpinning the market. Lastly, the SAFEX beef market ended the week in positive territory
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