For the eleventh time in 13 years, the Kansas City Board of Trade has set a new annual trading volume record in the hard red winter wheat futures contract. At the conclusion of Monday's trade 3,690,271 contracts or 18.45 billion bushels had traded thus far in 2006. The previous record was set in 2005, at 3,682,919 contracts or 18.41 billion bushels. More than three months remain in the year to add to the record. The KCBT hard red winter wheat futures contract is the world benchmark pricing mechanism for bread wheat.
This record follows a new annual volume record for the entire exchange, which was set on September 12 of this year. At that time, 3,964,449 contracts had traded, breaking the record of 3.953,536 contracts set in 2005. That number has now swelled to 4,121,315 contracts.
"The KCBT hard red winter wheat futures contract continues to be a critical financial instrument for both managing price risk and participating in the price movement of commodities a part of a more diversified portfolio of investments, as exhibited by the achievement of a new annual volume record with three months remaining in the trading year,” said Jeff Borchardt, KCBT president and CEO.
