MINNEAPOLIS, MINNESOTA, U.S. — The Minneapolis Grain Exchange (MGEX) announced on March 22 that it has set a new March total trading volume record with 115,600 contracts being transacted as of close of business on March 22. MGEX said that this month to date total surpasses the previous March record of 115,483 contracts traded set in 2007. With seven trading days left in the month, March 2011 volume is already up more than 25% over last March's total volume.

March 2011 electronic month to date trading totals 104,080 contracts, the best electronic March on record and already a top 20 electronic trading month.

"This month's record volume comes on the heels of our top month of trading in our 130-year history which took place in February," Mark G. Bagan, president & chief executive officer, MGEX, said. "Worldwide demand for high protein wheat and confidence in our risk management products helped fuel our March volume," Bagan said.

MGEX noted that open interest is up over 19% compared to March of 2010.