South African Agricultural Commodities Weekly Wrap

Producer deliveries data reflects good progress in maize harvest process
August 2, 2018
maize production
Spotlight on the maize market
August 6, 2018

South African Agricultural Commodities Weekly Wrap

  • Last week we painted an optimistic picture of possible above-normal rainfall over the Western Cape province between this month and October, leaning on the local Weather Service forecasts.
  • However, it seems that by the time this materialises some winter wheat growing areas would have already been negatively affected by the current dryness.
  • A case in point is the southern Cape region, which has not received good rainfall since the start of the season, with crops already showing signs of damage, particularly in early-planted areas. The other regions such as Swartland and Overberg are, however, still in good shape following higher rainfall in the past few weeks. The impact of this in overall wheat production remains unclear, the official estimates will be released on 28 August.
  • Aside from that, the local agricultural commodities prices were up this week, supported by higher Chicago grain prices.
  • The SAFEX beef carcass market experienced a quiet week with prices unchanged from levels seen last week. In terms of the beef supply, the South African farmers slaughtered 190 454 head of cattle in June 2018, down by 14 percent from the corresponding period last year.
  • Looking ahead, the data calendar for next week is fairly light with no major releases.

 

Click HERE to read the full report.