The white maize spot price drops to R5350 per ton, with the July ‘25 price also falling to R4406. The yellow maize price drops to R4900, with the July ‘25 price now at R4129 per ton. The soybean spot price drops to R8510, with the May ‘25 price dropping to R7911 per ton.
The sunflower spot price drops to R9500 per ton, with the May ‘25 price standing at R8850 per ton. The wheat spot price rises to R6014, with the Dec ‘25 price now at R6196 per ton.
The sorghum import parity price landed in Durban is R5621, with shelled Argentine groundnuts at R25,254, and the cotton price is now at R10,350.
White maize traded downwards by R1439 per ton from January 28 to February 14 and remains below the 21-day average trend with the 7-day average. Looking further at the white maize RSI, we see that the price is experiencing strong downward momentum at the moment. Yellow maize traded downwards by R821 per ton from January 24 to February 14. On February 4, the 7-day average also moved below the 21-day average. The yellow maize RSI model also indicates that the price has had strong downward momentum over the last few weeks. Soybeans and sunflowers’ technical analysis also points to downward trends, while wheat looks better.
If we start with wheat this week, we see that the US CBOT wheat prices have traded strongly upwards in the past few days because wheat areas have experienced very cold weather conditions without snow cover, which may have caused damage to the crop.
Moving on to maize, we have seen the CBOT price rise over the past week, but it unfortunately is stuck at the $5/bushel mark, possibly due to the higher expected maize hectares that will be planted, as well as demand possibly shifting to South America. Good news for prices is that Argentina has reported their maize and soybean harvests have been downgraded, but Brazil’s record large soybean harvest continues to suppress the market. In Zambia, we received similar news to what is emerging in the US, where they are possibly expecting fewer soybeans and more maize due to the higher profitability of maize compared to soybeans. The Trump tariffs are creating much uncertainty in the markets, but it seems much of it may just be talk. The possibility still exists that it has already been priced into the markets, and if it is cancelled or delayed, we could see some support return to the markets.
Locally, the South African Weather Service has predicted widespread rain over the summer grain areas this past weekend, and they forecast the same for the week of February 17 to 21. Should this rain materialize, it will create good growing conditions for our grain producers and bring much-needed relief in most production areas, especially in the western regions. More certainty about the size of the harvest may, unfortunately, put further pressure on prices as our local harvesting process gains momentum. On February 27, the first production estimate and adjusted hectares planted for summer grains will be released, giving us all a better idea of what the season might hold. Feel free to vote on our WhatsApp groups on how big you think the maize harvest will be for the season.
