A large share of 2017/18 maize crop has already been delivered to commercial silosSeptember 6, 2018
The focus in SA maize market is shifting towards the upcoming 2018/19 production seasonSeptember 11, 2018
- This week the weaker domestic currency against the US dollar, coupled with higher Chicago grain prices provided support to the grain and oilseed market, thus overshadowing the bearish sentiment that stemmed from large supplies in the 2018/19 marketing year.
- The notable gains were on white maize and sunflower seed spot prices, with each up by 5 percent from last week’s average prices. Aside from price movements, the focus in the market has somewhat shifted towards the 2018/19 summer crop production season which commences next month.
- There is uncertainty regarding the weather outlook. The local weather agency recently indicated a probability of an El Niño occurrence in the early stages of the 2018-19 summer season, which could negatively affect the crop as it coincides with the planting period. More information about this will be available towards the end of the month.
- The SAFEX beef carcass market experienced a quiet week with prices unchanged from levels seen last week. In terms of the supply, the South African farmers slaughtered 212 060 head of cattle in July 2018, down by a percentage point from July 2017 due to the herd rebuilding process after a reduction during the 2015-16 drought.
- Looking ahead, the data calendar for next week is fairly light with no major releases.
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