The latest white maize spot price sharply decreases week on week to R5074, while the July price falls to R5088 per ton. The yellow maize spot price drops to R3979 per ton while the July price falls to R4019.

The stronger Rand will certainly have a negative effect on prices, and thus we can expect lower SAFEX prices this week. The weather also looks a bit better in America, which can also cause short-term downward pressure. But keep in mind that if it suddenly becomes hot and dry in America, especially during July and August, we can again see some nice upward momentum in the market.

The soybean spot price drops week on week to R8980 with the July price lower at R9040 per ton. The sunflower spot price declines week on week to R8905 while the July price falls to R8982 per ton.

We expect that these prices could move further downward this week, mostly due to the stronger Rand. However, there are rumors that China has begun importing some new-season soybeans from America, with Brazil having problems. This, combined with any weather issues, could again support the markets. As mentioned last week, any new news in the market will likely be positive for prices.

As expected, the wheat spot price has fallen week on week to R6272 with the December price lower at R6277 per ton. Internationally, wheat prices have dropped due to better weather in Russia, harvest pressure in America, and then the stronger Rand also having an additional effect to push prices downward now. It also seems that the harvest in Ukraine is better than expected, but it still looks like the significantly lower production out of Russia this season could push wheat prices up again.

The sorghum import parity price landed in Durban rose last week to R5651 per ton. The producer import parity price of shelled Argentine peanuts fell to R28,595 per ton, while the cotton import parity price fell to R10,345 per ton.