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Following the volatile theme from yesterday the market gapped up, opening at 24.65 c/lb up 28pts from yesterday’s settlement price. Shortly after the price peaked at 24.85 c/lb before declining rapidly to 24.34.Following the decline price action remained relatively subdued finding itself between a range of 24.63- 24.31. This changed at 13.00 as price rapidly declined from 24.48 to 23.97 in under 10 minutes. Price rebounded temporarily before resuming a relatively steady decline until the end of day

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Jon Whybrow

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

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