Apart from the United States Department of Agriculture’s (USDA) World Agricultural Supply and Demand Estimates report, and domestic weekly grain trade and producer deliveries data, this was a fairly quiet week (ending 16 February 2018) in the South African agricultural commodities markets.
The uptick in grain and oilseed prices was mainly supported by commercial buying interest, as well as the bullish sentiment from the Chicago grain market. The notable improvements were on soya beans and sunflower seed with the spot price up by 3% and 2%, respectively, compared to the previous week (ending 9 February 2018). The maize and wheat prices were each up by 1% from last week (ending 9 February 2018), respectively.
The week ahead (ending 23 February 2018) could remain the same as the data calendar is quite light with only weekly grain trade and deliveries data due for release.
For fruits and vegetables, the week ending 16 February 2018 remained volatile with lower daily stocks underpinning the market. The SAFEX beef carcass market remained flat throughout the week ending 16 February 2018 due to thinly traded volumes.