MGEX (“the Exchange”) today announced strong September 2009 growth in its Hard Red Spring Wheat (HRSW) futures and options volume and open interest numbers. Total September volume increased 11 percent over the same period last year to 123,826 contracts traded versus 111,381 in September 2008. The new number also marks a five percent increase over August 2009.
Open interest in the HRSW futures contract ended the month at 46,965, 23 percent higher than September 2008 and 17 percent higher than August 2009.
Total options volume was 15 percent higher than last September with 3,123 contracts trading.
MGEX electronic volume continued strong in September with 99,883 contracts trading electronically, a September electronic record and the third best electronic month in Exchange history. September 1 also marked the fourth-highest electronic trading day ever at the Exchange with 8,889 contracts trading electronically.
Renewed activity in the Soft Red Winter Wheat Index (SRWI) sparked additional futures and options volume. The final three days of trading saw 120 SRWI futures contracts and 65 options contracts trade hands.
“On the heels of our second best year fiscally at MGEX, it’s nice to see 2009-2010 begin with such positive volume and open interest growth,” Mark G. Bagan, President & CEO, MGEX said. “In addition, new market participants are entering our marketplace not only for our flagship Hard Red Spring Wheat contract, but also for our financially settled Agricultural Index contracts, most notably the SRWI. These contracts offer exceptional risk management alternatives to all market participants,” Bagan said.