South African Agricultural Commodities Weekly Wrap
Similar to the previous week, the stronger Rand against the US Dollar led to widespread losses in the South African agricultural commodity markets. Bearish sentiment emanating from the expected bumper harvest also added pressure to the market.
The most notable losses were on white maize and soybeans, with the spot prices down by an average 3% compared to the previous week. Losses in other grains and oilseeds were marginal, averaging 1% from the previous week. This is with the exception of wheat which ended the week in positive territory, gaining 1% from the previous week.
For fruits and vegetables, the week has again been fairly volatile with daily stock levels underpinning the market. The SAFEX beef market saw a fairly quiet week, with prices unchanged from the previous one.
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