Apart from the United States Department of Agriculture’s World Agricultural Supply and Demand Estimates report, and domestic weekly grain trade and producer deliveries data, this was a fairly quiet week in the South Africa agricultural commodities markets.
The marginal uptick in grains and oilseeds prices was mainly supported by the relatively weaker domestic currency and bullish sentiment from the Chicago grain market. The notable improvements were on sunflower seed and soybeans with the spot price up by 3% and 2%, respectively, compared to the previous week.
The maize and wheat prices were each up by 1% from last week, respectively. The week ahead could present more of the same as the data calendar is quite light with only weekly grain trade and deliveries data due for release.
For fruits and vegetables, the week has again been volatile with daily stock levels underpinning the market. The SAFEX beef carcass market remained flat this week due to thinly traded volumes.
Click below to read more recent reports by Wandile Sihlobo.