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Heavy trade on Winnipeg Commodity Exchange Inc. (WCE) during May 2007 resulted in the best-ever volume level being reached for the month of May and generated several open interest records.
Total volume of trade in futures and options contracts was 306,136 contracts, representing an increase of 24.7% from May 2006. The previous record volume for the month of May was set in 2001, when 269,389 futures and options contracts were traded.
Canola futures contract volume reached 281,240 contracts during the month, which is an increase of 32.9% from a year ago. Western barley futures volume was 21,161 contracts and feed wheat futures volume was 2,119 contracts.
There were 532 canola options contracts and 1,084 western barley options contracts traded in May 2007.
Total open interest in WCE futures and options contracts reached 153,220 contracts at the close of business on May 31, 2007, breaking the six-year record held since March 21, 2001. Other open interest records were set on May 31, 2007 as well. Total canola futures open interest reached 128,104 contracts. The November 2007 canola futures contract posted open interest of 78,002 contracts setting a record open interest for any contract month. Total open interest in all WCE futures contracts reached 150,165 contracts.
Crop year-to-date total volume on WCE is 20.6% ahead of last year. There have been 2,655,971 futures and options contracts traded on the Exchange since August 1, 2006. Of that total, 2,392,755 is the volume of trade in canola futures which is up 20.9% from last year. Western barley futures volume for the crop year-to-date is 187,433 futures contracts, representing an increase of 44.4% from last year.
Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada's only agricultural futures and options exchange and North America's first fully electronic commodity exchange. WCE offers futures and options contracts on canola, domestic feed wheat, and western barley.
