Article

Grain SA deeply disappointed by JSE decision

Published: 31/07/2026

Grain SA said in a statement it is deeply disappointed by, and disagrees with, the decision by the Johannesburg Stock Exchange (JSE) not to retain the multiple reference point model for calculating soya bean location differentials and to revert to a single reference point system. The JSE’s decision is set out in its Market Notice on the outcome of the multiple reference points model pilot.

Grain SA, together with independent scientists and technical specialists, invested significant time and resources in developing and testing an alternative methodology supported by independent scientific research, market data and practical analysis. This methodology sought to achieve a more equitable and accurate matching of demand to supply.

Grain SA said it cannot support the proposed return to a single reference point, nor the relocation of that reference point, without a comprehensive and transparent assessment of the potential financial consequences for producers across all soya bean-producing regions. The organisation will submit detailed comments on the proposal and will continue to advocate for a location differential methodology that is transparent, evidence-based and equitable to all market participants. – Press release 

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