MINNEAPOLIS, MINNESOTA, U.S. — MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reported a total volume of 33,453 on June 13, making it the best daily volume in MGEX’s history. This surpasses the previous record set on Jan. 12, 2017, when 27,095 contracts traded.
“Poor crop conditions in key Hard Red Spring Wheat growing regions have been a factor in the increased activity at MGEX,” said Mark G. Bagan, president and chief executive officer, MGEX. “Producers are bearing the brunt of the drought and bad weather. In times of great uncertainty, hedging with MGEX futures and options products continues to grow. MGEX remains a consistent and reliable marketplace for market participants to manage risks to their business.”
Open interest following June 13 activity was 94,292, making it the fifth-highest open interest daily total of all-time. There are now three days that have reached top 10 open interest records, all of which have occurred consecutively since June 9. Open interest has seen a 46% increase from this time a year ago.