In the grain market, the White Maize spot price increases to R4199, while the Jul’24 price rises to R4128 per ton. The Yellow Maize spot price rises to R3913, with the Jul’24 price increasing to R3995 per ton. The soybean spot price falls to R9297, with the May’24 price lower at R8960 per ton. The sunflower spot price drops to R9050, while the May’24 price falls to R8794 per ton. The movements of the Rand over the past week have had a significant effect on parity prices, with the weakening towards the end of last week pushing prices up. There were also large export volumes from America, indicating good demand. However, it still appears that supply is sufficient, which could quickly erase these price increases. Soybean exports from America were also good, but improved weather conditions in Brazil led to prices falling last week. Better expected demand and weather related issues in Brazil, which led to delayed plantings and over-planting in some areas, could provide opportunities for price movements in December.

The wheat spot price drops to R5885, with the Dec price currently at R5900 per ton. Lower wheat prices are driven by lower prices from Russia and the Rand strengthening over the weekend. There is talk of better prices towards the end of December, while global stock levels are still decreasing, which could create opportunities for higher prices in the new year.

Furthermore, we have seen that the sorghum import parity price rises to R6429 per ton, with shelled groundnuts from Argentina lower at R36,037 per ton. Grade 1 lucerne prices also rise to R4000 per ton.