Wheat (Safex) Prices

06-02-2026 - Over the past month, the price of wheat on the Safex market has decreased from 5,772.0 ZAR per ton to 5,584.0 ZAR per ton. This decline suggests a downward trend in the market value of wheat, potentially influenced by shifts in supply, demand, or other economic factors. Despite this recent decrease, the forecast anticipates a slight increase in wheat prices to 5,714.4 ZAR per ton, representing a 2.3% rise. This indicates a potential upward trend, although the modest change suggests a relatively low risk for this commodity.

The forecast highlights upward price pressure on raw materials, driven by technical data with a 76.0 ZAR per ton impact, particularly from price signals and trend-following indicators. However, supply data points to a downward trend, resulting in a mixed market outlook.

In contrast, a report by LiteFinance projects a decline in wheat prices by 2026, with February prices expected to range between $505 and $517 per ton. This analysis suggests a stable trend with a gradual decrease and limited price fluctuations, indicating a bearish outlook for wheat prices during this period. This perspective contrasts with the forecasted price increase to 5,714.4 ZAR per ton, presenting differing views on the future direction of the wheat market.