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Membership values at the Minneapolis Grain Exchange (MGEX or Exchange) continue to rise with two seats trading at the record price of $140,000 and a total of eight sales in the first two weeks of June.
One company taking a larger stake in the Exchange is Urbana Corporation. The company purchased four additional memberships at the previous record price of $135,000 on June 8.
“The Minneapolis Grain Exchange is of particular interest to Urbana Corporation because of its private structure and exclusive contracts,” says Brendan Caldwell, President & CEO of Caldwell Investment Management Ltd., which acts as investment manager for Urbana. “We expect the exchange business to grow over the next few years and we have a particular interest in buying into private exchanges. This is a multi-year process and an investment we consider to be long-term.”
The Urbana purchase of four memberships in a single transaction is a record for the MGEX. “We’ve seen an increased interest in the Exchange from outside investors,” said Mark G. Bagan, President & CEO of the MGEX. “This multi-membership purchase by Urbana Corporation is a continuing testimony to the potential the investment community sees in the MGEX. The two additional membership sales at the record price of $140,000 following the Urbana purchases only strengthens our prospects for long-term growth.”
Information on membership and current bids and offers is available at http://www.mgex.com/membership.html or by calling Adam Reinhart at 612-321-7158.
About Minneapolis Grain ExchangeMGEX, established in 1881, is the only market for Hard Red Spring Wheat, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options. To learn more about the MGEX visit our website at www.mgex.com.
