MGEX sets new volume, open interest records

by World Grain Staff
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MINNEAPOLIS, MINNESOTA, U.S. — The Minneapolis Grain Exchange (MGEX) announced on Dec. 1 November month end volume and open interest records. Total November volume reached 182,719 futures and options contracts traded, making it the best November volume on record and the eighth highest volume month in the history of the exchange.

The trading also represents a 21% increase over November 2009. Total exchange open interest reached an all-time high of 79,355 on Nov. 9, breaking the previous record set in October 2007 by 2,550 contracts.

Through the first quarter of the fiscal year, MGEX total volume was 22% higher than the first quarter of last year.

A new November futures volume record was set last month, when 177,594 hard red spring wheat (HRSW) futures contracts traded. The total broke the previous November futures record set in 2007 and is a 20% volume increase over November of last year.

“Over the last 30 days, MGEX has witnessed a nearly 22% increase in trading volumes, and 37% increase in open interest which has not been seen in more than three years,” said Mark G. Bagan, president and chief executive officer of MGEX. “The MGEX Clearing House has handled spring wheat contracts with a notional value of about $7 billion in the last month alone.”

Options volume in November was the fourth highest November in exchange history and was 84% higher than in the same period a year ago.

November electronic trading also reached a new mark as 157,474 contracts traded electronically. November electronic volume is now the third best electronic trading month ever at MGEX, behind June and August of this year.
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