This was a data-packed week (ending 1 June 2018) for grain and oilseed markets, with the most notable release being the Crop Estimates Committee’s fourth production estimates for the 2017/2018 summer crops.
The commercial maize production estimate was lifted by a percentage point from April to 12.8 million tons. The soya bean and sunflower seed production estimates were left unchanged from April at 1.4 million tons and 792 255 tons, respectively.
The yields received thus far in the summer crop areas that have already harvested vary between average and above average, which is supportive of the aforementioned estimates. In terms of winter crops, the first production estimate will only be released at the end of August.
Planting activity is almost complete in the Western Cape. The newly emerged crops are in good shape but need rainfall to improve soil moisture and crop conditions.
The SAFEX beef carcass market experienced a quiet week with prices unchanged from levels seen last week (ending 25 May 2018).– Wandile Sihlobo, Agbiz
Wandile Sihlobo, head of economic and agribusiness intelligence at Agbiz, shares highlights in his update on agricultural commodity markets. Click here for the full report on agri markets for the major commodities.