MINNEAPOLIS, MINNESOTA, U.S. — MGEX announced on May 1 that monthly futures volume of its flagship hard red spring wheat (HRSW) contract increased 40% in April when compared to the previous month.
The 112,322 HRSW futures contracts traded also marks the ninth best April futures volume in the 131 years of the exchange.
Total April futures and options volume also enjoyed a healthy month over month increase of 39% when compared to March. HRSW electronic options trading volume improved 16% over March.
“Recently announced changes to our spring wheat contract specifications, including removing the U.S. origin condition effective with September 2012 contract month, allows spring wheat market participants around the globe to deliver spring wheat on our contract,” said Rita Maloney, director, marketing & communications, MGEX said. “We are confident our contract is well-positioned for continued month over month volume growth going forward."