| Contract | Size | Quotation | Delivery |
|---|---|---|---|
| White maize | 100 tonnes | Rand per tonne | Physical, silo receipt |
| Yellow maize | 100 tonnes | Rand per tonne | Physical, silo receipt |
| Wheat | 100 tonnes | Rand per tonne | Physical |
| Sunflower seed | 50 tonnes | Rand per tonne | Physical |
| Soybean | 50 tonnes | Rand per tonne | Physical |
| Sorghum | 50 tonnes | Rand per tonne | Physical |
| Situation | Price anchored to |
|---|---|
| Surplus crop | Export parity, the world price less the cost of getting it there |
| Deficit crop | Import parity, the world price plus the cost of bringing it in |
| Between the two | Local supply and demand, a wide band |
| White maize | Largely local, there is no deep world market |
| Yellow maize and wheat | Chicago, adjusted for the rand and freight |
| Factor | Effect |
|---|---|
| Rainfall in the maize triangle | The dominant driver, November to February |
| The rand | A weaker rand raises both parity levels |
| Chicago prices | Direct for yellow maize, weaker for white |
| Crop estimates | The CEC releases move the market |
| Export demand from the region | Zimbabwe, Zambia, Mozambique |
Data maintained by TradeAnswers · updated as the figures change