FeedIngredient REPORT: Feed ingredient report using December 2017 as a base with an outlook to July 2018 - Executive Summary

摘要

The price of international maize has been very stable for a reasonable period of time and has been trading between $3.49/bu and $3.60/bu in the last few months for the Mar 18 contract on CBOT. The USA has again harvested a very big crop, so accordingto reports we should not see any big movements on the International price in US Dollar terms. The weakening of the US$ will cause some upward movement on CBOT. Local prices do follow international prices and the major impact currently is the strengthening of the Rand. Currently the Rand istrading at R11.88 against the US Dollar and this is the main reason why the local maize prices have decreased in the last few weeks. The local SA maize crop is the biggest ever at over 17 million mt, which also includes the small scale farmers portion. Even with the current exports, we should still have a significant carry-over going into the next season -3,5 million to 3,7 millon mt.