The weather remains a key focus in the South African wheat market as the crop is still at relatively early stages of development that require high moisture. However, this is mainly a concern in dryland areas such as the Western Cape province. The province has not received effective rainfall since the start of the season, thus soil moisture is extremely low.
South African Agricultural Commodities Weekly Wrap
Apart from the USDA’s World Agricultural Supply and Demand report, domestic weekly grain and oilseed trade data, and the producer deliveries, this was a fairly quiet week in the South Africa agricultural commodities markets.
With that said, the weaker domestic currency and strong buying interest led to widespread gains in markets. This was with the exception of wheat which ended the week in negative territory, largely pressured by lower international prices.
For fruits and vegetables, the week has again been fairly volatile with daily stock levels underpinning the market. The SAFEX beef carcass market ended the week on a quiet note with prices unchanged from last week.
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