The low demand on nearby positions hasn’t improved during the past two weeks. The continued weak demand resulted in a situation in which buying prices of TMO exceed the current price levels of today’s market. While the nearby demand doesn’t show signs of growth the concerns about the fungus disease are slowly but surely rising day by day. The enduring rains keep on feeding the uncertainty on the development of the new crop. The weather forecast as announced so far are not bringing any relief either, as the number of rainy days is expected to be twice as much as the days without showers till the end of June. Considering nearby positions could be a logical reaction to today’s market, we advise to keep in mind that these stocks are not offered to / accepted by TMO for a reason.
