The majority of grains’ prices on the Exchange and in the open market had a red week. Soybeans were the biggest losers on the Exchange, falling 8.61% week-over-week, while maize was the biggest loser on the open market, falling 9.41%.
Market insights showed that there is little activity from major participants, making it a buyer’s market where buyers determine the buy price for certain commodities. Maize accounted for 41% of all trading volumes on the Exchange. While the AFEX Commodity Index slightly down by 0.63% w-o-w, the AFEX Export index increased by 4.24%.
In the meantime, AFEX is bringing back the AFEX FairTrade Exchange Traded Commodities (FETC) with a 15% return guarantee throughout this holiday season. FETC stands for a basket of commodities that enables investors of all risk tolerance levels to buy one or more units of a contract that is a mixture of commodities. This week, it is available for subscription on ComX, but you can get on the waiting list by clicking here.
Your are invited to register for the free webinar happening on Thursday at 11 am on “Exploring Sustainable Investments with Commodities.” There, you might learn more about how to invest in FETC. Register here
With the exception of sorghum, the Exchange’s performance in the previous trading week was unfavorable for the majority of grains. The best performer at the time was cocoa. Most commodities saw a broad fall in price on the open market. But during the week, cocoa was the only commodity to increase.
In the global market, soybeans were the leading gainer, gaining 13.55% week-over-week. Check out the report here.