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The rand has rebounded about 20% from a one-year low and traded stronger than R12 per dollar for the first time since May 2015. Analysts link the rally to Ramaphosa's leadership of the ANC, a weaker greenback, and hopes that South Africa can avoid a credit-rating downgrade.
A stronger rand reduces the local-currency cost of imported feed inputs in South Africa, but the story centers on domestic politics and dollar weakness rather than global feed supply. Its effect on world grain prices is minimal.
businesstech.co.zaGovernmentJan 25, 2018Not 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.
