Any optimism that the South African Rand (ZAR) would continue its attempt to strengthen against the USD, appears to have gone out the window—following the news that Jacob Zuma survived another no-confidence vote.
Weekly export inspections for the week ending August 3 came in at 979,000 MT. It's similar to the previous week's movement, but it's more than one-third below what had been exported the same week a year ago in 2016. Corn exports are also slowing.
There was little excitement in the oil markets during Tuesday’s trading session; with investors on guard as OPEC and Non-OPEC members discussed compliance levels on their output cut agreement, in Abu Dhabi.