Daily Market Price Updates and Commentary 11th August 2026

The market has been on a one-way track for the past one and a half weeks and todays opening showed no signs of changing that pattern with prices sitting steadily in the 16.40’s. There was a brief blip that saw the price drop back to 16.33, but aside from that the price action was positive and before too long we were probing into the 16.50’s. Scale selling continues unabated from growers, but while the same can be said for the spec buying there is no sign that the market is ready to stop its progression. By late morning we were trading back into yesterdays highs and the chart double top, and into the afternoon persistence from the specs achieved its reward with a move to yet more new highs ay 16.72. This was followed by the usual array of small trader profit taking and the market moved back into the range, however the picture was remaining solid as longs supported the price in the lower 16.60’s through the later part of the day. This ensured that it was well placed for another aggressive long push into the close and some sizable buying ensured that another new high was recorded at 16.75, in the process establishing another strong close for the chart with settlement made at 16.73. 

Though the rate of increase slowed yesterday we are continuing to see the market move to higher levels and following a composed start to the session that trend looked to maintain. Across a couple of buying waves through the morning Oct’26 moved ahead to $512.00, another new mark with which to continue the recent ascent. While the market may not yet have topped there is an increased willingness to lock in profits as the price begins to edge back, and this sent the market slipping down into the range at a similar steady pace before gathering back up. Into the afternoon the market maintained its solid demeanour but without finding the necessary level of buying to further trouble the highs, and instead we saw some considered consolidation take place. This ensured that another steady gain was maintained though the failure to keep pace with No.11 meant that white premiums were softer by late afternoon with Oct/Oct’26 in the $141.50 area. Having approached the final stages quietly some stronger buying was unleashed to ensure that another strong settlement was posted, Oct’26 ending the day valued at $511.30 while being pushed back up to the earlier highs.