Apart from the United States Department of Agriculture’s (USDA’s) World Agricultural Supply and Demand Estimates report, and domestic weekly grain trade and producer deliveries data, this was a fairly quiet week in the South Africa agricultural commodities markets.
The marginal uptick in grain and oilseed prices was mainly supported by the relatively weaker domestic currency and bullish sentiment from the Chicago grain market. The notable improvements were on sunflower seeds and soya beans with the spot price up by 3% and 2%, respectively, compared to the previous week.
The maize and wheat prices were each up by 1% from last week (ending 10 November 2017), respectively. The week ahead could present more of the same as the data calendar is quite light with only weekly grain trade and deliveries data due for release.
For fruit and vegetables, the week has remained volatile with daily stock levels underpinning the market. The SAFEX beef carcass market remained flat this week due to thinly traded volumes.