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"Several different factors during the last two weeks of February culminated in record-breaking volume in the KCBT wheat futures pit at the Kansas City Board of Trade," said KCBT Chairman Greg O’Brien. "There was a significant amount of short-covering by fund-related business that lead to a new single-day volume record for wheat futures on February 22 at 34,874 contracts. Since that record-breaking day, volume has continued to keep a brisk pace as the funds remained active in the KCBT market. Also during February, positions were being rolled from the March contract into the May and July contracts, adding to the active volume levels."
"The continual trading records achieved in the KCBT wheat futures market is a testament to the exchange’s strong commitment to price transparency, liquidity, market integri"ty and customer service," said KCBT President and CEO Jeff Borchardt. "This commitment, coupled with the exchange’s position as the global benchmark pricing mechanism for bread wheat, has provided the foundation for the market confidence attributable to this stellar growth."
Total exchange volume for the month of February was the second largest in the history of the exchange. A total of 365,811 contracts were traded, falling shy of the record of 383,760 contracts set in September 2002 by only 17,949 contracts.
Year-to-date volume for the wheat futures contract is running 20.3 percent ahead of last year’s figure at this time. Total exchange volume is running 14.3 percent ahead of last year at this time.
The Kansas City Board of Trade, chartered in 1876, is the world's largest futures market for hard red winter wheat.
