Why are Wheat (Safex) Prices so high?
30-09-2026 - Over the past month, the price of wheat on Safex has decreased from R 6162 per ton to R 5976 per ton, indicating a downward trend in the raw material market. This decline suggests potential changes in supply or demand dynamics. The forecast for Wheat (Safex) is R 5965.2 per ton, a slight decrease of R 10.8 per ton or 0.2% from the current price of R 5976 per ton. This suggests a generally stable trend with minimal risk of significant price fluctuations in raw materials.
The current forecast highlights a notable downward price impact of R 27 per ton due to demand, particularly influenced by the global economy. However, conflicting data from supply and flow dynamics suggest upward pressure, while demand and technical factors point to a decline in raw material prices.
The World Bank's Commodity Markets Outlook from October 2023 projects a 3% decrease in the grains price index for 2024, following an 11% drop in 2023. This projection aligns with the forecast of a decline in the SAFEX Wheat market, reinforcing the anticipated downward trend.
The current forecast highlights a notable downward price impact of R 27 per ton due to demand, particularly influenced by the global economy. However, conflicting data from supply and flow dynamics suggest upward pressure, while demand and technical factors point to a decline in raw material prices.
The World Bank's Commodity Markets Outlook from October 2023 projects a 3% decrease in the grains price index for 2024, following an 11% drop in 2023. This projection aligns with the forecast of a decline in the SAFEX Wheat market, reinforcing the anticipated downward trend.
What is the current / spot price of Wheat (Safex)?
Wheat (Safex) Price Today
September 30, 2026
Current Price
5976
$/bsh
What is the forecast for the price of Wheat (Safex)?
Wheat (Safex) Price Forecast
September 30, 2026
1 Month Forecast
5965.2
$/bsh
1 Year Forecast
6189
$/bsh
What are the short-term drivers of Wheat (Safex) prices?
Over the 1 Month horizon the outlook is moderately bearish due to drivers such as: - EWMA-based technical analysis - MSCI Emerging Markets Europe Index - Grain imports to Brazil Br(None) The top contrary drivers for the 1 Month horizon are: - Satellite-observed activity in Free State (South Africa) - Short term price trends
What are the long-term drivers of Wheat (Safex) prices?
Over the 1 Year horizon the outlook is bullish due to drivers such as: - Short term price trends Br(None) The top contrary drivers for the 1 Year horizon are: - The shape of the futures curve - Satellite-observed activity in Free State (South Africa) - Global Wheat Ending Stocks - Long term price trends
Will the price of Wheat (Safex) go up?
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1 Week
1 Month
3 Month
6 Month
1 Year
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ChAI Protect is our commodity price risk insurance offering, created to protect your company from the financial risks associated with raw material price movements.
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