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MGEX (Minneapolis Grain Exchange or Exchange) May 2009 volume increased 21 percent over May 2008 to 91,034 contracts traded. Futures trading of its flagship Hard Red Spring Wheat (HRSW) contract increased by 21 percent while options trading enjoyed a 39 percent increase.
The Exchange also experienced continued record electronic trading during the month. With 7,515 contracts traded electronically, May 28 was the third highest electronic volume day in Exchange history. The top two electronic days were recorded in April of 2009. The May 2009 total monthly electronic trading volume ranked among the top five in Exchange history.
Exchange May 2009 open interest increased 29 percent over April 2009. Open interest totals include futures and options of HRSW as well as open interest held in the MGEX Hard Red Winter Wheat Index (HRWI) and Soft Red Winter Wheat Index (SRWI) contracts.
“This month’s volume and open interest growth indicates the confidence our users have in both our contract’s representation of the cash market and the ongoing efforts of MGEX to bring transparency and liquidity to marketplace,” Rita Maloney, Director, Marketing and Business Development said.
