Today No.11 Market opened at 26.83, +8 points above yesterday’s settlement. The first half an hour of trading was volatile with market swinging from opening level and 26.07. Around 9h30am, buyers started to appear more consistently and from 10am to 11h45am, market saw an upward movement from 26.70 until 27.15. Around 12pm, some correction followed, and market came back to trade near the 26.85 zone. There was some further weakness with market testing again 26.7 zone, but it soon reacted with increasing volumes and went up to 27.10 at 3pm. Market closed at 27.11. Settlement price was 27.09, a 34 points move from previous settlement. Volume traded was 47k lots and H4K4 spread closed valued at 1.37, up 10 points.Today Dec’23 opened trading at $727, a $1.6 up from previous settlement. Market saw some volatility in the first hour of trading, near the $725 zone, when around 9h30am saw more buying strenght, reaching $737.7 at daily high. Some correction was then seen and market went down back to the $727 zone. Around 1h30pm, some recovery started and market went back to trade at $734. Market closed at $734.3, settlement price was $733.00, a $7.6 move from previous settlement. Volume traded was 5.2k lots and H4H4 white premium clsoed at $131.33.

Jon Whybrow

Jon joined CZ in 1991, working in the Treasury department before moving to join the derivatives team in 1994. Over 30 years Jon has built up significant experience across derivatives markets and products, particularly sugar, and is now Head of Flow derivatives providing market execution services for CZ’s global client base. He is responsible for the market commentaries which are published each day on CZ app.

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