Commodities Market Update: Soybean records 3-week gain amid high demand

In the open market, soybean achieved a gain of 3.26%, continuing a third week of gains. Large players are becoming more prevalent, which is causing prices to rise as soybean producers restart their activity on the domestic market.

On the Exchange, contracts had a range of performances. The chart of gainers was led by maize. While the AFEX Export Index (AEI) decreased slightly by 0.75%, the AFEX Commodity Index (ACI) marginally increased by 1.58% week-over-week to close at 474.02 index points.

Market participants anticipate that the majority of grains’ prices will be under pressure to rise in the upcoming weeks as major players refill their decreasing inventories.

Market Price Performance

• Most grains saw increases in price at the Exchange, with the exception of sorghum, which had a decrease of 2.45%.
• The prices of most grains increased on the open market during the week under review, with the exception of paddy rice, which showed a little dip of 1.31%.
• The cost of agricultural commodities fell dramatically on the global market.
• Access the study here to view further pertinent information on market performance.