FUTURES Busy day for rate contracts
Trading again passed the 1000-lot barrier on the futures market yesterday, as attention focused on the two interest rate contracts.
Mr Mark Thiele, a futures trader with Egden Wignail and Company, said that the Government stock contract rose to a new peak in July of 8475, and the June contract was at 8443 at its mandatory closeout.
The July month looks likely to go to 8500, he said. The prime commercial paper (PCP) contract was also active and sold higher, although the trend was not as clear as in the Government stock contract. The United States dollar contract moved on insider trading, or within the range that was set by the contract
on Tuesday. Although the New Zealand dollar had firmed in the morning, Egden Wignali still favoured the position that the kiwi dollar would go lower. Dr Brent Layton, the spokesman for Marshall Futures, said yesterday that the wool contract was slightly easier today, although the market was active. The wheat contract had an initial flurry of interest by farmers and others in the morning because they had not realised that the first digit was being dropped in the tables, he said. They thought that the contract price for wheat was $290 a tonne. In fact it was $229 a tonne, but the first digit was being dropped. SUS CONTRACTS ” Mth Open H/L Last Vol Jun 1.7750 7820/7750 7760 7 Jly 1.7965 7965/7900 7940 44 Contracts traded: 51 Open positions at June 10: Jun 278, Jly 161, Aug 2, Sep 6, Total 447 (up 13). COMMERCIAL BILLS
Contracts traded: 520. Open positions at June 10: JUn 386, Jly 278, Aug 93 n Sep 461, Dec 380, Mar 293, Jun 40, Sep 40, Dec 40, Mar 40, Total 2051 (down 11).
Open positions at June 10: Jun 628, Jul 458, Aug 78, Sep 112, Dec 3, Total 1279 (up 72).
Contracts traded: 67 Open positions at June 10: Aug 112, Oct 187, Dec 207, Jan 230, Mar 293, May 258, Aug 205, Oct 178, Dec 11, Total 1681 (unchanged). WHEAT Mth Open H/L Last Vol Feb 2230 230/230 230 2 Mar 2240 250/240 250 8 May 2300 300/300 300 5 Contracts traded: 15 Open positions at June 10: Feb 17, Mar 30, May 8, Jul nil, Sep nil, Dec nil. Total 55 (up 17).
Mtb Open H/L Last Vol Jun 8500 560/500 550 131 Jiy 8500 540/480 515 106 Aug 8525 525/485 495 27 Sep 8500 515/480 490 36 Dec 8525 545/500 520 124 Mar 8475 480/475 480 16 Jun 8520 520/520 520 30 Sep 8480 480/480 480 5 Dec 8525 525/525 525 30 Mar 8500 500/500 500 15
GOVERNMENT STOCK Mth Open •H/L Last Vol Jun 8428 460/428 443 66 Jul 8450 475/440 463 323 Aug 8460 470/455 466 79 Sep 8475 475/460 467 36 Contracts traded: 504
WOOL FUTURES Mth Open H/L Last Vol Oct 525 525/525 525 3 Dec 528 529/525 525 12 Jan 528 529/528 528 5 Mar 534 534/533 533 11 May 537 537/535 535 9 Aug 547 547/545 545 10 Oct 547 547/546 546 11 Dec 548 548/547 547 6
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Press, 12 June 1986, Page 26
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522FUTURES Busy day for rate contracts Press, 12 June 1986, Page 26
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