Year-to-date trading volume totaled 1,202,993 contracts traded in the first seven months of 2011, compared to 886,890 contracts traded in the same period a year ago. Total monthly exchange volume for hard red spring wheat (HRSW) futures and options reached 127,497 contracts in July, marking the third best July total exchange volume in the 130-year history of MGEX. Month-end total exchange open interest was up 3% compared to July of last year. Month-end options open interest soared 91% over the same period a year ago.
Three HRSW trading volume records were achieved in the month. July 13 marked a top 20 daily exchange volume record with 15,752 contracts traded. The same day the exchange recorded the ninth highest electronic trading volume with 14,823 contracts. Total month end electronic trading of 114,952 broke into the top 20, making it the sixteenth highest electronic volume month in history.
“The uncertainty of both crop conditions and crop yield weighed on all of the futures markets in July,” said Joe Victor, business development Specialist at MGEX. “Despite this uncertainty, MGEX July Hard Red Spring Wheat volume was still historically strong compared to past years.”