DAILY MARKET REPORT 19 NOVEMBER 2018

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1 DAILY MARKET REPORT 19 NOVEMBER 2018 Unigrain (Pty) Ltd Tel. No. : Fax. No. : Economic Indicators Quote at 12h00 previous day Current quote Change % Change Rand/Dollar Euro/Dollar Gold Platinum Brent Crude JSE Top Dow Jones Indus Avg The changes in the table above is from previous Safex close (12h00) The rand is stronger this morning and is currently trading around R14.02/$ with the weaker dollar supporting the rand. The rand did briefly dip below the R14.00/$ level in the session on Friday. South African equities ended slightly lower with the JSE Top40 ending 0.17% lower. In the US the dollar is weaker and is trading around to the euro this morning and US equities posted some gains with the Dow gaining 0.49% in the daytime session on Friday and this morning the Dow futures are 0.35% lower. Commodity prices are higher this morning with the weaker dollar supporting commodity prices. Gold and platinum prices are 0.34% and 0.48% and Brent crude oil prices are 0.10% higher this morning. US Dollar/South African Rand Key data releases: No major economic releases

2 International Market Quote at 12h00 previous day Current quote Change % Change CME Dec maize CME Mar maize CME Dec wheat KCBT Dec wheat KCBT Mar wheat Matif Dec wheat (Euro/ton) CME Jan soybeans Dec CME maize R/ton Mar CME maize R/ton Dec CME wheat R/ton Dec KCBT wheat R/ton Mar KCBT wheat R/ton Jan CME soybeans R/ton The changes in the table above is from Safex close (12h00) Corn US maize prices ended slightly lower in the daytime session on Friday with some technical selling that was seen while the solid export numbers limited the losses. This morning the electronic maize prices are unchanged/slightly higher. The weekly US export sales figures of maize released on Friday was reported at tons which was in line with the market expectation seen ranging between and tons. On the technical chart for December CME maize we see that the market once again broke below the 40-day and 100-day averages with the short term averages and indicators under some pressure. Soybeans Wheat US soybean contracts posted some gains in the daytime session on Friday with comments by Trump administration that no further tariffs on China might needed. This morning the electronic soybean prices are lower. The weekly US export sales figures of soybeans released on Friday was reported at tons old and new crops combined which was in line with market expectations. The USDA did announced a sale of tons of soybeans that was sold to an unknown destination. On technical chart for January CME soybeans we see that the market did get some support around the9-day average and prices posted some gains after that. However this morning the electronic prices are under some pressure. US wheat futures posted some gains with KCBT wheat leading the way higher with some short covering that was seen with the back months gaining more ground. This morning the electronic wheat prices are mostly flat. The weekly US export sales figures of wheat released on Friday was reported at tons which was at the lower end of the market expectation seen ranging between and tons. On the technical chart for December KCBT wheat we see that the market did get some support around the $4.80 level and prices posted some gains after that. The short term averages and indicators remain under pressure. There could be some divergence between the RSI and prices. 2

3 US rainfall forecast for the week ahead US 6-10 Day temperature forecast South American raifnall forecast 3

4 South African Market 16 November 2018 Maize South African maize prices opened the day lower with some more selling that was seen after the opening. December white maize opened the day at R2420 and the market sold off breaking below the 40-day average and traded to a low of R2395 with the market ending the day close to the session low. The weak performance and close that was seen could limit some of the buying interest in our market in the session today. US maize prices are lower this morning and the rand is also stronger resulting in lower parity prices this morning. Our market sold off on Friday which together with the lower parity prices could put some more pressure on local maize in the session this morning. Wheat South African wheat contracts gapped lower from the opening with some buying interest that was seen after the opening. December wheat contracts started the day at R4275 and traded to a low of R4262 with some buying/short covering that was seen after that. The market traded to an intraday high of R4297 with the wheat market ending the day rather close to the session highs. US wheat prices are mixed to slightly higher with KCBT wheat prices leading the way higher. However the stronger rand is still pointing to lower parity prices which could put some more pressure on local wheat prices in the session today. Oilseeds White Maize MTM Change High Low Dec Mar Jul Yellow Maize Dec Mar Jul Wheat Dec Mar Jul Sunflower Dec Mar Soybeans Dec Mar CME Corn Dec Mar South African soybean contracts opened the day lower with some buying interest that was seen after the opening. December soybean contracts started the day below the 100-day average starting the day at R4601 which was also the intraday low of the session with our market gaining some ground after that. The market broke above the 100-day average and traded to a high of R4625 ending the day slightly off the session highs. The market is caught between the averages with the 100-day as support at R4609 and the 40-day as resistance at R

5 South African sunflower seed contracts opened the day lower with some buying interest that was seen after the opening. December sunflower seed contracts opened the day at R5170 which was also the intraday low of the session with the market finding some support just above the 40-day average and prices posted some good gains after that. The market traded to an intraday high of R5220 and prices ended the day slightly off the session highs. US soybean contracts are lower this morning which together with the stronger rand is pointing to lower parity prices this morning which could weigh on local sunflower seed and soybean contracts in the session today. Weather conditions Cumulative rainfall forecast for week ahead Technical Graphs Safex Dec maize prices CME Dec corn prices 5

6 Daily MAWZ8 Cndl, MAWZ8, Trade Price 2018/11/16, , , , N/A, N/A SMA, MAWZ8, Trade Price(Last), /11/16, SMA, MAWZ8, Trade Price(Last), /11/16, SMA, MAWZ8, Trade Price(Last), /11/16, SMA, MAWZ8, Trade Price(Last), /11/16, /02/ /11/30 (JHB) Price ZAR T Auto RSI, MAWZ8, Trade Price(Last), 14, Wilder Smoothing 2018/11/16, Value ZAR T Feb 18 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 Auto 6

7 Daily CZ8 Cndl, CZ8, Trade Price, 2018/11/19, / 4, / 2, / 2, 365, +0 1 / 4, (+0.07%), SMA, CZ8, Trade Price(Last), 40, 2018/11/19, / 8+, SMA, CZ8, Trade Price(Last), 9, 2018/11/19, / 2+, SMA, CZ8, Trade Price(Last), 100, 2018/11/19, / /10/ /12/10 (CHG) Price USc Bsh / / / RSI, CZ8, Trade Price(Last), 14, Exponential, 2018/11/19, /8 Value USc Bsh Oct 17 Nov 17 Dec 17 Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov Auto 7