The SMP market remains unsettled and pricing levels are under pressure as prices have declined in other global markets. Some market participants felt that the 2,000 Euro would be a psychological floor for SMP prices, but prices have moved through that point. The E.U. Agriculture Commission has extended the invention period through the end of the calendar year. The intervention price for SMP is 1,690 Euros and no offerings have been made. Trade sources do not expect offerings to occur, but for demand to increase. Current prices are significantly below levels of recent years and are generating some export interest. Yet, many international buyers continue to hold off purchases. Additionally, competitive and lower pricing in Oceania and the United States are creating more choices for buyers in the international markets. There are hopes that export tenders and opportunity buying will help to clear the SMP market.