The CME Component on the - - -

6/26/14 kill was up 0.91 to 126.52. That puts the HEN4 premium to the index by 3.73 with eleven more days to expiry. That rate at which the Index is climbing seems to be slowing.

On average over the past ten years, the index declined by 3.24 from this date to expiry. The most it gained as in 2008 when it gained 2.10.

We all understand that this is an unusual year with the PED virus problem so historicals may not mean much except they may give a hint that demand falls off following Independence Day.

Best wishes,