The Tokyo Commodity Exchange announced today that average daily trading volume for June 2015 was 92,565 contracts, down 1.8% from May 2015. Year-on-year it gained 18.2%. Platinum volume gained 19.1% to 14,062 contracts and Corn increased 71.5% to 2,163 contracts. These gains were overcome by decreases in TOCOM’s most actively traded products; Gold dropped 8.5% to 28,666 contracts and Crude Oil fell 10.5% to 11,415 contracts. Gold Daily Futures increased 1.0% to 11,350 contracts and its month-end open interest gained 37.4 % to 59,924 contracts.
Platinum prices fell due to concerns that a Greek default would reduce demand in a slowing European economy. Yen appreciation at the end of the month also pushed prices down and the ensuing volatility supported a rise in trading volume. Also in June, Corn settlement prices for the back contract month rose 7% from the end of May on concerns that heavy rain in the Midwest would reduce yields. This price increase also contributed the increases in volume.
TOCOM open interest at the end of June 2015 was 415,603 contracts, an increase of 26,935 contracts from the end of May 2015. Open interest exceeded 400,000 contracts for the first time since February 2013.
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