February Was Record Month For Minneapolis Grain Exchange

More futures and options contracts were traded at the Minneapolis Grain Exchange (MGEX) during February 2005 than during any other month since the Exchange began trading hard red spring wheat futures in 1883.

Total February 2005 MGEX futures and options volume was 175,748 contracts, nearly 6 percent higher than the previous record established in November 2004 when 165,833 contracts exchanged hands.

The increase in volume was led by the Exchange’s flagship contract, hard red spring wheat futures, which traded 173,065 contracts during February. The contract has traded continuously at MGEX since 1883. An evening electronic trading session was added to hard red spring wheat futures in December 2004. Of the total spring wheat futures volume traded during February, 1,571 contracts were traded electronically.

MGEX, established in 1881, is the only market for hard red spring wheat, Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat (HRSI), Soft Red Winter Wheat (SRWI), National Corn Index (NCI) and National Soybean Index (NSI) futures and options. www.mgex.com