The South African agricultural commodity markets saw significant losses this week, owing to prospects of large grains and oilseeds supplies this season. Notable losses were on the maize market, which fell an average of 11% compared to the previous week’s levels.
The oilseeds market also closed in negative territory as the bearish sentiment prevailed, on the back of expected large supplies. This bearish price trend on grains and oilseeds could continue over the coming months, at least until the end of July 2017.
Meanwhile, the wheat market saw marginal gains on the back of the weaker Rand against the US Dollar. For fruits and vegetables, the week has again been fairly volatile with daily stock levels underpinning the market.
Lastly, the SAFEX beef market ended the week in positive territory due to increased activity at the stock exchange, as well as slowing cattle slaughtering activity.
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