The weaker domestic currency, coupled with higher Chicago grains and oilseed prices led to widespread gains in the South African agricultural commodity markets this week.
The notable improvements were on sunflower seeds and soya beans with the spot price up by 5% and 3%, respectively, compared to the previous week (ending 27 October 2017). The maize prices were up by 1% from last week (ending 3 November 2017), while the wheat price gained a mere 0.1%.
The calendar for the week ahead is fairly light with only weekly grain trade and deliveries data due for release. The weather will dominate the market as the planting season progresses. The outlook at the moment is favourable.
Fruit and vegetable prices were volatile throughout the week with daily stock levels underpinning the market. The SAFEX beef carcass market remained flat this week due to thinly traded volumes.