Lets do a small analysis of the commodity Market in comparison to current economic realities.
For today's analysis i will quote my sources...

The commodities i will be analyzing are
1. Maize
2. Paddy Rice
3. Soybean
4. Sorghum


The tonnage for measurement is Per Tonne, 1 tonne is 1,000 kg of such commodity while most bags contain 100kg * 10 bags = 1,000kg.

1. Maize closed at N550,000 per tonne meaning 550,000/10 = 55,000 per bag

2. Paddy Rice closed at 520,000 per tonne meaning 520,000/10= 52,000 per bag (local rice)

3. Soybean closed at N610,000 per tonne meaning 610,000/10= 61,000 per bag

4. Sorghum closed at N550,000 meaning 550,000/10= 55,000 per bag

The prices are as of close of Business today 08/05/2024

Normally Prices of commodity drops at harvest, then climb steadily till it peaks sometimes around June /July And sometimes August... However there has being serious distortion in prices of commodity leading to hyper inflation... We are not yet at peak season however the prices of commodities are falling to find its true prices due to the fall in price of dollars... With the sudden rise in price of dollars, fuel scarcity, we may begin to see a rise in prices of commodities again.

To those who would like to learn and invest in commodities as a side hustle, let me break down my investment for you...

At harvest in November/December 2023,I bought

1. Maize at 26,000 per bag and stored it. The current price of Maize at at today is 55,000 per bag.
2. Paddy Rice, I did not store paddy rice, however, the price then was around 18,000 - 20,000 per bag the price as at today is 52,000 per bag.
3. Soybean I bought soybeans at 28,000-30,000 per bag, the price as at today is 60,000 per bag.
4. Sorghum I bought Sorghum at 23,000 per bag, the price as at today is 55,000 per bag.

The prices of this commodities have dropped a little, this is due to fluctuations in exchange rates, the prices looks to also rise if the sudden rise in dollars continues.

For those willing to learn/Invest, The farming season is now fully upon us, harvest will be in 4-5 months...

If you are interested and willing to learn/ invest you can send in a DM or join the whats app link below

https:///GwauCDYxYeg7wN6HNptuzG

(I am not sure if admins allow this, however it can be taken down and prospective can reach me through my DM, i would definitely respond)

Caveat, Joining is not free, its 1k (One thousand Naira only) to join and learn, its for serious minded people only.

I will teach you more and all you need to know.
I will teach you about the best time to buy and sell.
I will teach you and show you the best and cheapest markets to purchase commodities.
I will teach you the best form of treating the commodities, Storage methods, bagging and packaging
you will learn from others as well.
If you do not have a store to keep it, We have a store for a little fee as low as 500 per bag for the whole season its stored

My company Name is Drone One Enterprise Solutions
My Name Is John Dotun AKA Otunba. Founder/Agriprenuer.

Current Data source[b] https://africaexchange.com[/b]/ Afex commodity markets, there may be little variations in market prices according to various markets.. however it gives a true and fair picture of current market prices.

I tried joining but The link is not active .
U may need to repost it.