South African agricultural commodity markets were again under pressure this week, owing to a combination of factors with key ones being the prospects of large grains and oilseeds supplies, selling pressure, as well as a progressively stronger Rand against the US Dollar.
Notable losses were on the white maize market, which fell an average of 4% compared to the previous week’s levels. Moreover, we believe that this bearish price trend on grains and oilseeds could prevail over the coming months, at least until July 2017.
For fruits and vegetables, the week has again been fairly volatile with daily stock levels underpinning the market. Lastly, the SAFEX beef market saw a quiet week, with prices unchanged from the previous week’s level.
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