MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today reported its second-highest electronic volume day in history as 17,255 futures and options contracts traded electronically. Only November 9, 2009 recorded more electronic trades. Today’s total Hard Red Spring Wheat (HRSW) futures and options volume was 17,973, making it the eighth best total exchange volume day in MGEX history.
Along with the record volume numbers, MGEX HRSW open interest continues to grow during the month. Thru July 14 trading, HRSW futures open interest has increased more than 4 percent over June’s month end open interest and is 57 percent higher than the year-ago HRSW open interest level.
“Economic factors including global weather and crop considerations are influencing these movements in the grain markets,” says Mark G. Bagan, President & CEO of MGEX. “MGEX market participants worldwide continue to look to our Spring Wheat contract with its protein specification as a vital component in their risk management portfolios.”
The volume and open interest news comes on the heels of a record June when MGEX recorded its best electronic trading month in history, complete with seven top ten electronic trading days. June also was the second highest total trading volume month on record at the Exchange.