South African Agricultural Commodities Weekly Wrap – 21 July 2017
The South African agricultural commodity markets painted a mixed picture this week. The maize and oilseed markets were in negative territory with expected large supplies, selling pressure, slightly firmer domestic currency, as well as relatively lower Chicago grain prices being the key drivers of the market.
The notable losses were on the soybean market, an average of 4% from the previous week. Other commodities were down by an average 3% from the previous week.
Meanwhile, wheat ended the week in positive territory due to lingering concerns of dryness.
The fruits and vegetables prices have been fairly volatile with daily stock levels underpinning the market. The SAFEX beef market saw a quiet week with prices unchanged from the previous week.
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