There were a total of 50 trades yesterday – the highest number of trades in one day we’ve seen in the past year. Almost all of the trades were for WMP futures, which traded 41 times. The remainder were for SMP and AMF futures. Across all three products, 1550t valued at US$3.62m changed hands. 1335t of that wasWMP.
Many of the trades were for comparatively small amounts. Just one 100t trade took place, with most of the rest being 50t or less.
There were also 19 trades on Monday, again, with mostly WMP traded. There were also low amounts traded here, with the largest amount being 60t for the March 2016 contract.
WMP futures prices have dropped to US$2125/t for the February 2016, and are to reach US$2340/t by June. For SMP futures, the February 2016 contract has dropped to US$1850/t, and for AMF US$3650/t. Prices for butter futures have also eased this week, with the February to May contracts losing between US$70/t to US$140/t.
