South African agricultural commodity markets gained ground this week, owing to a combination of factors with key ones being a relatively weaker Rand against the US Dollar, strong domestic buying interest, as well as higher Chicago grain prices.
Notable gains were on the maize and sunflower seed market, an average of 3% up from the previous week. The aforementioned factors and prospects of relatively lower yields on sunflower seed were the key drivers of the market.
The wheat and soybean market saw marginal gains, closing in positive territory. For fruits and vegetables, the week has again been fairly wobbly with daily volumes/stock levels underpinning the market. Lastly, the SAFEX beef prices remained unchanged from the previous week.
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