May SMP traded this morning at $3850 – unchanged and WMP traded in August at $4180 – down $20 and Sep at $4185 +5. There is interest to buy WMP across the curve and we have good two way interest in SMP for August & September.
OMF NZ Futures Market report – May 16, 2014
Offshore markets remain mixed and with our SMP under Europe – that’s probably no surprise. There are still healthy margins in the market aided by the fall in corn prices – back under $5. GDT auction for next week has been announced – there is a 1% reduction with less WMP but more AMF & SMP.
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