Daily Market Price Updates and Commentary 8th July 2026

The market quickly moved higher this morning, possibly in reaction to recent price movement both for softs (coffee) and the rising energy sector as tensions simmer again in Iran. This took Oct’26 through more of the scale selling to reach 15.39 before stalling, though with no additional progress being made some smaller traders quickly looked to exit their risk. The rest of the morning took on a calmer persona with the price holding steadily in the 15.20’s, though remaining well positioned to try and further build. Into the afternoon there were a couple of efforts to do so but on neither occasion could the market find the necessary buying volume to break above the morning high, with the liquidation that followed each effort a confirmation of the speculative nature of the buying. The final round of liquidation left the market languishing back around unchanged levels and resulted in a marginally lower settlement at 15.11, though with global tensions on the rise again traders will have a keen eye back on macro developments that could influence near term direction. 

The market regained some of the recently lost ground with an early push up to $473.30, however the recovery soon petered out, and the price set back below $470.00. A calmer session then started to develop with traders content to hold values within recent parameters, and while the price did extend to marginal new daily highs through noon it lacked the substance to continue very far. One area which was seeing some recovery was the white premium where values had picked back up by a few dollars to place Oct/Oct’26 back in the mid $130’s, being helped by the fresh rise in tensions seen over Iran today. Midway through the afternoon there was a further push for the flat price and daily highs were achieved at $475.80, and while these were not sustained unti the close they did compliment the continuing white premium strength as the value approached $140.00. Aug/Oct’26 spent another plaice day holding wither side of $9.00, and with Aug’26 open interest now reduced to 28,770 lots the expiry is moving in an orderly fashion. Oct’26 closed at $473.30, a solid value but not one which changes anything on the charts.