Total HRW wheat futures volume tallied 61,328 contracts, breaking the previous daily record of 60,534 contracts set on July 30, 2010 by 1.3%. The increased trading volume could be attributed to several reasons.
Massive trade in the intra-market spreads was the primary feature that contributed to the record volume recorded, KCBT traders said. KCBT March/May and March/July were very active as traders moved positions ahead of the approaching first notice day in the KCBT March contract on Feb. 28. KCBT May/July also witnessed active trade. Increased export interest and uncertainty around the world continued to contribute to trading volume.