Canola futures established several records in March, with pit trade volume reaching 271,204 contracts, 66.3% higher than one year ago. Open interest levels in May 01 canola futures reached a new record on March 23, 2001 at 42,641 contracts. Canola futures open interest for all months also established a new record at 98,221 contracts on March 21, 2001. Open interest levels in canola futures as of March 31, 2001 were 34.3% higher than the same date in 2000, while total canola options open interest levels ended the month 13.7% above the year ago level at 15,863 contracts.
Feed wheat futures pit trade for the month rose 2.0% to 10,477 contracts compared to March 2000. Open interest levels in feed wheat futures as of March 31, 2001 were up 29.0% over the same time a year ago at 11,572 contracts. Feed wheat futures experienced continued active trade across all listed months, with increasing interest in the newly designed feed wheat contract, effective with the Oct 01 contract and subsequent months.
As well, substantial increases were witnessed in both canola options and total options volume levels for the month of March. Total options pit trade in March saw a 68.8% increase to 13,741 contracts, compared to year-ago levels and this is well above the previous record of 10,469 contracts established in June 1999. Total canola options pit trade also witnessed new record levels in the month of March reaching 11,886 contracts, compared to the previous record of 10,444 contracts set in June 1999.
Total options and futures pit trade combined was 49.5% higher than one year earlier at 317,461 contracts. Crop year-to-date futures and options pit trade for 2000/01 reached 1,889,142 contracts, well ahead of the 1,612,366 contracts established for the same period of the 1999/00 crop-year. Total options and futures open interest levels also saw higher levels, up 17.7% from a year ago as of March 31, 2001 at 147,076 contracts.
