Although maize prices have risen week-on-week, they came under a lot of pressure on Monday morning. The latest white maize spot price fell to R4910 while the July price dropped to R4929 per ton. The yellow maize spot price fell to R3980 on Monday while the July price dropped to R4032 per ton, but these prices are still higher than a week ago. However, the soybean spot price rose to R9028 with the July price higher at R9139 per ton. The sunflower spot price fell to R8800 while the July price dropped to R8945 per ton.

The Rand is slightly weaker than last week, which does support parity prices now. I feel the Rand might maintain stronger levels due to US inflation and interest rates that are declining. Election results could negatively impact the exchange rate if more uncertainty enters the markets. US plantings went well, slightly later than usual, but they look good. We are now moving into a La Niña, which could mean warmer and drier weather for America, and if they experience a mid-summer drought, it could support prices. However, soybean exports from America are at a 19-year low, and the Chinese are now buying from Brazil, thus soybean prices could remain under pressure.

The wheat spot price rose to R6599 last week, with the December price slightly higher at R6495 per ton. Uncertainty about the weather in Russia has created concerns about supply from the region, leading many funds to close short positions, causing the price increases in wheat.

The bitter sorghum price still trades at R5200 per ton, while sweet sorghum trades between R6300 and R6500 per ton. However, the sorghum import parity price landed in Durban fell to R5684 per ton. The average sugar bean price trades lower at R30 000 delivered and could trade even lower during the coming month. The producer import parity price of shelled Argentine peanuts rose to R28681 per ton, while the cotton import parity price rose to R11 725 per ton.