Apart from the United States Department of Agriculture’s (USDA’s) monthly report, weekly grain and oilseed trade data, and the producer deliveries, the week ending 14 July 2017 was fairly quiet in the South Africa agricultural commodities markets.
The weaker domestic currency, coupled with higher Chicago prices led to widespread gains in the markets this week. The notable uptick was on soya bean with the spot price up by an average 8% compared to the previous week ending 7 July 2017. White and yellow maize spot prices were up by an average 6% this week.
For the third consecutive week, fruit and vegetables prices have been fairly volatile with daily stock levels underpinning the market.
The SAFEX beef market ended the week (14 July 2017) in positive territory due to an increase in traded volumes. –Wandile Sihlobo, Agbiz