Key Data Releases in Agricultural Markets:
- SAGIS producer deliveries data: 11/10/2017
- USDA weekly export sales data: 12/10/2017
- USDA crop progress report: 16/10/2017
- SAGIS weekly grain trade data: 17/10/2017
- National Crop Estimate Committee’s data: 26/10/2017
- This morning the domestic currency gained ground, partly aided by firmer commodity prices. The is currently 0.22% stronger compared to levels seen at midday yesterday, trading around R13.66. From a data front, it is likely to be a quiet day with no major data releases in the domestic market.
- The oil price was up by 0.71% from levels seen at midday yesterday. These gains followed reports that Saudi Arabia intends to reduce its oil exports by 7% in November 2017 in an attempt to lift prices. Moreover, the talks that OPEC could possibly extend its oil production cut strategy beyond March 2018 also provided support to the market. At the time of writing, oil price traded around US$56.81 per barrel.
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