The white maize spot price increased to R3678, while the July price rose to R3706. The yellow maize spot price rose to R3780, with the July price reaching R3833 per ton. The soybean spot price increased week on week to R7815, with the July price currently at R7920 per ton. However, the sunflower spot price decreased to R8230, while the July price dropped to R8367 per ton. The wheat spot price decreased to R6492, with the December price currently at R6440 per ton. Weather premiums are now entering the market for summer grains due to dry weather conditions in America, potentially affecting the planting process. Most downward factors, including low Chinese demand, exports from Russia, and high yields in North and South America, have already been priced into the market. This means that any new news can bring support back to the markets. It is currently a buyer’s market. However, keep an eye on the exchange rate as it can create volatility if it starts to strengthen.

The import parity price for sorghum at Durban is currently at R6,890/ton, up 2% week on week. American sorghum contracts increased by 1% week on week, while Australian and Argentine contracts traded unchanged, with Argentina currently being the cheapest source.

The producers’ import parity price for de-hulled Argentine groundnuts stands at R35,670/ton, up 3.8% week on week. The latest US crop progress report indicates that approximately 55% of this year’s groundnut crop has already been planted in America, slightly behind the pace of the previous season. However, the import parity price for cotton decreased to R12,954 per ton, with Grade 1 lucerne prices remaining stable at R4,500 per ton.