This was a data-packed week (ending 27 October 2017) for grain and oilseed markets, with the most notable release being the Crop Estimates Committee’s (CEC’s) intentions-to-plant data for the 2017/2018 summer crop production season, and winter wheat third production estimate.
From a summer crop perspective, there is optimism regarding the upcoming season with farmers intending to increase the area plantings by 1% from the 2016/2017 production season to 4.03 million hectares. The winter wheat crop was revised down by 3% from the previous estimate to 1.66 million tonnes.
This data came after the market closed, therefore it had limited impact on this week’s prices. Overall, the market ended the week on a mixed footing, with good gains in all commodities, except sunflower seed that remained in negative territory.
Fruit and vegetable prices were volatile during the week with daily stock levels driving the market. The SAFEX beef carcass market remained flat throughout the week due to thinly traded volumes.