The Tokyo Commodity Exchange announced today average daily volume for April 2016 was 117,063 contracts, up 3.6%. TOCOM Dubai Crude Oil was up 18.1% to 27,582 contracts, Rubber rose 6.3% to 11,462 contracts and Corn was up 117.7% to 1,842 contracts. These gains outpaced a drop in volume for Gold Standard, which was down 9.1% to 35,622 contracts. Gold Standard is TOCOM’s most active contract.
TOCOM Dubai Crude Oil prices fell briefly in April after OPEC deferred a production freeze. Prices bounced back and volume rose on expectations for global demand growth. Corn volume increased at TOCOM after price rising in Chicago due to too little precipitation in Brazil and too much in the U.S. Midwest potentially reducing production. TOCOM Gold market was subdued on the wait-and-see approach facing the FRB at the end of the month.
End-April open interest for all products was 377,229 contracts, a decrease of 7,136 (1.9%), from the end of March.
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