| Settlement (cUS$/lb) | Open | High | Low | Last | Volume | O/I | Life High | Life Low | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Date | Spread | Date | Spread |
|---|---|---|---|
| Oct26 / Mar27 | -0.97 | Jul27 / Oct27 | -0.28 |
| Oct26 / May27 | -0.78 | Jul27 / Mar28 | -0.95 |
| Oct26 / Jul27 | -0.77 | Oct27 / Mar28 | -0.67 |
| Oct26 / Oct27 | -1.05 | Oct27 / May28 | -0.36 |
| Mar27 / May27 | 0.19 | Mar28 / May28 | 0.31 |
| Mar27 / Jul27 | 0.20 | Mar28 / Jul28 | 0.40 |
| May27 / Jul27 | 0.01 | May28 / Jul28 | 0.09 |
| May27 / Oct27 | -0.27 | May28 / Oct28 | -0.10 |
Having produced a steady performance yesterday the inconsistent nature of intra-day movement was immediately evident this morning with a drop back to 14.91. This adds additional fog to the near-term prospects and the market continued to show uninspiring performance through the morning as the price tracked along in the vicinity of 15.00 before slipping back top a new 14.89 low. No additional loss was incurred as the afternoon saw some mildly supportive interest re-appear, however progress was slow and it took a few hours to return prices to a credit with the depth of interest insufficient to take prices beyond the teens. One final push was made during the last hour, and the price saw a small extension to 15.20, but despite today representing a Brazilian holiday which will have limited the input from growers no additional gain was achieved. Some of the longs were closed ahead of the call to knock values back a touch, though Oct’26 did manage to hold on to the smallest of gains as a settlement was recorded at 15.12.
| Settlement (US$/mt) | Open | High | Low | Last | Volume | O/I | Life High | Life Low | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Date | Spread | Date | Spread |
|---|---|---|---|
| Aug26 / Oct26 | 7.00 | Oct26 / Dec26 | 1.40 |
| Aug26 / Dec26 | 8.40 | Dec26 / Mar27 | -0.20 |
| Aug26 / Mar27 | 8.20 | Mar27 / May27 | 0.30 |
| Aug26 / May27 | 8.50 | May27 / Aug27 | 3.00 |
| Date | Premium | Date | Premium |
|---|---|---|---|
| Oct26 / Oct26 | 138.26 | Mar28 / Mar28 | 97.64 |
| Mar27 / Mar27 | 115.68 | May28 / May28 | 104.48 |
| May27 / May27 | 119.57 | Jul28 / Aug28 | 104.66 |
| Jul27 / Aug27 | 116.79 | Oct28 / Oct28 | 100.47 |
| Oct27 / Oct27 | 108.51 | Mar29 / Mar29 | 93.37 |
Oct’26 started the day trading lower in reaction to No.11 movement, and with buying interest having fallen away this week the market struggled to pull itself back up. Oct’26 did move back above $470.00 on a couple of occasions but each time the movement stalled and by late morning it had fallen to a session low at $465.50. Moving into the afternoon the picture remained shaky, but with no more selling coming through a more sustainable recovery was able to build, with the price slowly moving back up to erase the daily loss on low volumes. Smaller traders then moved with the trend and showed some interest in picking at the long side, and their efforts saw the price reached $474.70 in the final hour as most others stood aside. Aug/Oct’26 saw a modest rolling volume which will likely further reduce the Open Interest, now standing at 25,914 lots, but that aside there was only limited interest being shown for spreads. The market returned to the red during late trading as day trader positions were cleaned out, resulting in a lower close for Oct’26 at $471.60.
