South African Agricultural Commodities Weekly Wrap
The South African Supply and Demand Estimates Committee’s latest data paints a mixed picture regarding the country’s grain and oilseed supplies for the 2017/18 season.
All summer crops are in good shape and the country will be a net exporter, whilst there are lingering concerns regarding winter crop growing conditions and supplies. More specifically, wheat imports could increase by 94% year-on-year to 1.8 million tonnes if the forecast production of 1.7 million materialises.
From a price perspective, this was a fairly quiet week. It appears that most of the bearish news regarding the large summer grain and oilseed supplies has largely been priced in.
Apart from this, the fruit and vegetable prices were volatile throughout the week with daily stock levels underpinning the market. The SAFEX beef carcass market remained flat throughout the week.
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