Daily Market Price Updates and Commentary 4th June 2026

Mild opening gains were built upon across the next couple of hours and Jul’26 pulled up to 14.45 by late morning. There appeared to be less interest from the day traders than usual, to be expected given that recent days have seen the market picking across the same range, and so that the move petered out ahead of the Americas day was no shock. Having edged away from the highs there was a rapid correction to unchanged levels early in the afternoon as those traders brave enough to have bought the market closed out their positions, and with a more limited desire to re-enter the market from either side the next couple of hours saw values move along quietly in front of the 14.14 low. Though the main index roll does not get underway until tomorrow there was already some good volume changing hands across the Jul/Oct’26 spread with the value moving as high as -0.44 points during the afternoon. The last two hours saw prices hold away from the lows , though only Jul’26 was able to find its way back to a small credit as all positions held a few points either side of overnight levels. The close saw Jul’26 up to 14.30, with settlement made at 14.27 to leave parameters unchanged heading into the heavier volume that the index activity will bring tomorrow.      

Opening gains were given back across the first 30 minutes of trading and while traders then moved to bring prices positive again it was all done very quietly with limited interest showing as we tread familiar ground. Through the morning Aug’26 gradually worked its way up to $449.30 however the appetite of many has been quashed by the recent see-saw pattern and so consolidation ensued into the afternoon in the hope that more dynamic input may follow. Sadly, it did not and so corrective long liquidation followed which sent prices quickly down to new session lows and set about a long period trading quietly at this end of the range instead. Spreads and arbs were also quieter than of late, making for a slow day all around. From a low at $443.00 the market found support and mounted a recovery during the late afternoon, initially only a mild one but then much sharper with the final stages seeing Aug’26 achieve a new daily high at $450.00. The buying came despite a flat No.11 and meant that Aug/Jul’26 was trading out to $135.00 and Oct/Oct’26 to $118.00 on the close, though despite all of this a settlement level at $449.20 changes nothing on the charts and it remains to be seen whether any inspiration will follow tomorrow.