The white maize spot price has increased week-on-week to R6,366, while the July ’25 price has risen to R4,148. The yellow maize spot price has decreased week-on-week to R5,067, with the July ’25 price now at R3,881 per ton. The soybean spot price has decreased week-on-week to R9,020, while the May ’25 price stands at R7,790 per ton.

The sunflower spot price has dropped week-on-week to R10,380, with the May ’25 price at R9,574 per ton. The wheat spot price has decreased week-on-week to R5,902, with the Sep ’25 prices at R6,159 per ton. The sorghum import parity price landed in Durban stands at R5,277 per ton, while the producer import parity price of dehulled Argentine groundnuts is trading at R27,331 per ton and the cotton import parity price is trading at R10,800 per ton.

International prices are still moving in a sideways trend, although new news has come out. Russia reported that their winter wheat has reached a new record for the poorest quality, with 37% of the harvest in poor condition and only 30% in good condition. The expectation was that this news would support CBOT wheat prices, but they have remained in a sideways trend. Our feeling is that the stronger dollar is keeping these prices suppressed while the industry waits for the WASDE report to come out on Wednesday and to see if Trump will indeed impose the import tariffs. The next three weeks are also a critical time for Brazil’s soybean harvest, but the weather forecast still looks favorable, which could keep soybean prices under pressure in 2025.

Locally, weather, planting, and demand are still driving the market. On the demand side, we are seeing that demand is starting to decrease as consumers begin to seek cheaper alternatives, millers are milling less, and feedlots are also feeding less as we approach Christmas. In terms of the weather forecasts, it is now looking better for the summer grain areas, which could get rain either at the end of this week or next week. We know there are areas, especially in Mpumalanga, that remain very dry, and it may be too late to replant, but the weather is also starting to look better there. Given these factors, we feel that maize prices, particularly white maize, have now reached a peak, and we expect these prices to gradually start declining. It is still important to remember that should the weather become hot and dry again in the second half of December and the first part of January, we could see the price stay at these high levels because uncertainty in the market will return. There is also talk that load shedding might return, which could negatively affect the exchange rate and push prices up, something to keep an eye on.

Also, feel free to visit AMT’s website at AMTRENDS.co.za for the latest prices, videos, and more detailed reports or send me a WhatsApp if you want to join one of our groups.