MGEX October trading volume up 33% over year ago

by World Grain Staff
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MINNEAPOLIS, MINNESOTA, U.S. – MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), on Nov. 1 announced October futures and options trading volume of 149,923 contracts, a 33% increase over the same period a year ago. Total exchange open interest was up 39% over October of last year, led by a strong increase in open interest of Hard Red Spring Wheat (HRSW) futures contracts. HRSW futures open interest totaled 67,318 in October 2010, compared to 43,339 in the same period last year.

October 2010 marked the fifth highest month for electronic trading with 128,170 contracts trading electronically. Oct. 19 was a top 20 electronic trading day when 10,127 futures and options contracts traded electronically.

"The lack of rain in the plains, deteriorating conditions in Australia and continued demand for high protein products has provided support to our Hard Red Spring Wheat contract," Joe Victor, business development specialist, MGEX, said. "We also are seeing new participants in our market."

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