Grain price jitters as rand creeps up to R20/$

The rand edged closer to the psychological level of R20/$ after another bumpy session, which pushed it down nearly 2% to R19.63/$ at one point before stabilising slightly.

The extended blowout in the value of the rand to the dollar poses a renewed upside risk to inflation at a time of much uncertainty about global grain prices in the context of the prevailing El Niño phenomenon, which is characterised by hot and dry weather…