MINNEAPOLIS, MINNESOTA, U.S. — MGEX announced on March 1 that volume in February increased 25% over the previous month and electronic trading of hard red spring wheat (HRSW) futures and options was the 19th best electronic volume in the exchange’s history.
February total exchange volume reached 116,875 contracts traded with 101,344 contracts trading electronically. Futures trading of the flagship contract, HRSW, totaled 114,782 contracts traded in February, a 26% increase over January futures volume.
The month-over-month volume growth comes on the heels of a 36% increase in January over December.
MGEX also announced the March 26 launch of MGEX-CBOT Wheat Spread Options. Market participants will have the ability to use these risk management tools which are based on MGEX HRSW futures and the Chicago Board of Trade (CBOT) soft red winter wheat futures.
“MGEX is pleased to partner with CME Group in offering market participants another way to access our high protein HRSW contract,” Eric Delain, corporate council, MGEX said.