Daily Market Price Updates and Commentary 29th September 2026

It proved to be another quiet but mixed morning for No.11 as values again cycled around the current trading band without threatening to push aggressively to either direction. An 18.69/18.41 morning band was testament to this situation, and it appeared likely that another session of sideways trading would develop. Into the afternoon the price picked itself back from the lows and moved towards the morning highs and then was given a harder push from specs as they looked to capitalize with another effort to regain upward momentum. Quick progress into the 18.80’s gave the opportunity to extend on to 19.00 and uncover a little more grower pricing, though the market stalled short of last weeks 19.07 mark and some profit taking followed. There remained steady support through the later afternoon which ensured the market held onto a solid gain, ending the day at 18.84 and maintaining the 19c area in focus. 

Oct’26 remains on course for a sizable tender tomorrow evening with Open Interest still standing at 45,412 lots with just two sessions of activity to account for, while the spread value recovered slightly though is still at -1.02 points.

It was a slow start for Dec’26 as mild gains were achieved against low interest and a mid-morning high reached at $507.80. Selling then arrived and the latest in a sequence of investigations saw the $500 area back under scrutiny, but though there were some prints just beneath this mark the recent lows were never in reach. This did present a negative outlook to those beginning their days in the Americas, but it proved meaningless as spec interest took the market back into credit, and ahead to new daily highs soon afterwards. Limited selling aided the longs and Dec’26 reached $513.90 before encountering some slightly better pricing that had been placed at the upper end of our short-term band. Traders reacted with some position trimming, but that did not deter the longs completely and prices maintained the upper reaches of the range comfortably. White premium values held steady with March/March’27 valued at $108.00 late in the afternoon, though Dec’26/March’27 continued to send negative spread signals and sat at -$13.50. Prices remained steady into the close, and Dec’26 reached a final value of $509.50, more positive but still confined by recent parameters.