We've got a Global Dairy Trade auction due today during London time

I'll get a preview up a little later

Ahead of that, some news from Fonterra in NZ:

  • Farmer shareholders can apply for interest-free loan of 50 cents (NZ) for every kilogram of share-backed milksolids produced from June 1 to Dec 31 this year
  • Loan will be interest-free until May 31, 2017, after which Fonterra may charge interest

There's gonna be small print, so don't front up to Fonterra with a copy of this post in hand expecting a bonanza, K?