Data from the South African Supply and Demand Estimates Committee shows that the country’s soybean supplies for the 2017/18 season could reach 1.39 million tonnes.
Highlights in today’s morning note
Data from the South African Supply and Demand Estimates Committee shows that the country’s soybean supplies for the 2017/18 season could reach 1.39 million tonnes. This includes an opening stock of 84 792 tonnes for this season, commercial deliveries of 1.28 million tonnes and a small volume of imports. Overall, this is 29% higher than the previous season.
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Although the past few weeks’ rainfall was not sufficient to replenish soil moisture across many fields in the Western Cape province, it benefited the crop as it is currently in a fair condition. Whilst in the Free State province, the crop is in fair to poor condition due to persistent dryness. There is an urgent need for follow up rains as the crop approaches the pollination stage which requires high moisture.
The most recent data from the South African Supply and Demand Estimates Committee shows that the country’s 2017/18 total maize supplies could reach 16.7 million tonnes. This figure includes opening stock of 1.0 million tonnes, as well as expected commercial deliveries of 15.7 million tonnes. Overall, this is 36% higher than the previous season’s supplies.
South Africa’s sunflower seed supplies could reach 1.04 million tonnes this season (2017/18). This figure includes opening stock of 163 086 tonnes and commercial deliveries of 849 400 tonnes, amongst other variables . This essentially means that this season’s supplies will be 18% higher than the 2016/17 season.
The South African potatoes market gained ground on Friday’s trade session with the price up by 5% from the previous day, closing at R41.10 per pocket (10kg). These gains came on the back of relatively lower stocks of 737 760 pockets (10kg bag) at the start of the session.
On Friday, there was not much happening in the SAFEX beef carcass market. The price remained flat at R46.00 per kilogramme due to thinly traded volumes. This means that the SAFEX beef carcass prices could differ from the physical market prices.
The fruit market closed on a mixed footing on Friday’s trade session. The prices of bananas and oranges were up by 1% and 3% from the previous day, closing at R5.11 per kilogramme and R2.78 per kilogramme, respectively. Meanwhile, the price of apples was marginally down by 1% from the previous day, closing at R7.28 per kilogramme.