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The rand weakened early on Tuesday, trading at R18.47 per US dollar, about 0.46% weaker than its previous close. Analysts blamed ongoing power outages, deadlocked public-sector wage talks and political tension ahead of the ANC's December leadership conference.
The rand had reversed all of Friday's gains and posted its biggest one-day fall since June the previous Monday.
A weaker rand raises the local-currency cost of imported feed ingredients such as corn, soybeans and meal, which feeds through to South African buyers' costs. The move is a routine currency update with no direct grain supply change.
moneyweb.co.zaAnait Miridzhanian, ReutersOct 25, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
