MGEX (Exchange) reported January futures trading volume of its Hard Red Spring Wheat (HRSW) contract increased 33 percent over January 2009 to 99,237 while HRSW open interest was up 87 percent over the same period. Total Exchange volume, including HRSW futures and options as well as futures and options of the Soft Red Winter Wheat (SRWI) contract, increased 34 percent to 101,141 while total open interest was up 82 percent compared to the year ago period.
January 2010 HRSW futures trading volume increased 61 percent over December 2009, when 61,390 contracts traded. January total Exchange volume was also up 61 percent compared to December 2009.
"This month’s impressive volume and open interest growth demonstrates the marketplace’s growing interest in our flagship Hard Red Spring Wheat contract," Mark G. Bagan, President & CEO, MGEX said. "MGEX is well-positioned for growth in 2010 as we continue to provide quality risk management products and new opportunities to the marketplace," Bagan said.
Additionally, electronic trading set a new January record with 84,928 contracts trading electronically, surpassing the previous record by 12,304, or 17 percent, set in 2008. That also makes January 2010 the seventh best electronic trading month in Exchange history. Electronic trading on January 27 totaled 8,376 contracts making it a top 10 electronic trading day.
MGEX volume and open interest information can be found on our website at www.mgex.com.