The Rand faced significant resistance against the Dollar over the past week, currently trading at R18.09 to the US Dollar, with the Dollar being much stronger. This, of course, had a major effect, particularly on our grain prices.

The latest Brent crude oil price dropped over the past week, now sitting at $71.56 per barrel. The Russia-Ukraine conflict has escalated, pushing prices up briefly, but the outlook remains that there will be an oil surplus of over 1 million barrels per day in 2025, keeping pressure on the market. This surplus may materialize even if OPEC cuts production, indicating that global economic growth will remain subdued next year.