The records continue to fall at the Minneapolis Grain Exchange (MGEX or Exchange). October trading volume exceeded the previous October record volume by 48 percent (200,448 vs. 135,336 contracts). It also ranked as the second highest monthly volume in the history of the Exchange.
In addition, electronic volume posted the highest ever monthly volume in Exchange history with 61,887 contracts traded, exceeding the previous monthly electronic record (August 2007) by 22 percent.
Open interest is also worth noting. At the end of October, total open interest for the Exchange was 74,409 contracts, a 26-percent increase over this time last year. The top 20 open interest days in Exchange history have all occurred since Sept. 26, 2007. Open interest in the spring wheat futures contract is 67,195 contracts, which is a 36-percent increase over one year ago.
“It’s an exciting time in the agricultural commodities industry,” says Mark G. Bagan, President & CEO of the Exchange. “There is unprecedented volatility, which is translating to record volume. We’ve also seen many new players entering the Minneapolis futures market. The fact that a non-roll month has posted the second highest monthly volume in Exchange history is truly a sign that the growth we’ve recently experienced in our market is continuing. We are expecting even stronger trading volume going forward.”
A link to MGEX volume and open interest records is on the lower right corner of the MGEX website (www.mgex.com).
About Minneapolis Grain Exchange
MGEX, established in 1881, is the only market for Hard Red Spring Wheat, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options. To learn more about the MGEX visit our website at www.mgex.com.