By Mily Wilson | Source: Ag Concepts, Riemann
A good number of forward trades across the fine to medium end and some minimum price contracts set too for growers over the week despite the softer physical auction market.
This week saw majority of its trade in 19 and 21 micron class. Out of the three trades in 19 micron class, one dealt at 1700¢ for October 2017 and the other two trading between 1735¢ and 1750¢ for September 2017. Again, September 2017 has another grower order set for 19.5 micron at 1630¢. The rest of the forward market this week saw dealings for 21 micron only. May 2017 had two trades - both fixed at 1420¢, while August 2017 traded at 1400¢ and September 2017 at 1375¢.
Early in the week saw a minimum price contract dealt for 18.5 micron class set to expire in July 2017. This deal has a premium of 50¢ and a strike price of 1935¢. Another similar kind of contract towards the end of the week was on 21 micron with a premium of 25¢ and 1350¢ being the strike price. The grower in this deal has locked a minimum price of 1325¢ which will expire in August 2017 and he can choose to deal as he sees fit.
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