MGEX (Exchange) reported November 2009 total volume increased 77 percent over the previous year and year over year open interest was up 67 percent. Trading in November totaled 150,544 contracts, compared to 85,216 contracts in the year ago period and was fueled by a 72 percent increase in trading of Hard Red Spring Wheat (HRSW) futures contracts. November month end futures and options open interest was 50,384, up from 30,103 a year ago.
November was also a record electronic trading month with volume of 131,176 futures and options contracts, breaking the previous record by 11,274 contracts or 10 percent set in June 2009.
Additional records were set in November, including eight top 20 electronic trading days, and the November 9 record for daily electronic volume when 18,592 contracts traded. Additionally, November 9 also marked the fifth best overall volume day in Exchange history when a total of 18,878 futures and options contracts traded.
"There is continued interest in the commodity markets as is reflected by the MGEX November record volume numbers," Mark G. Bagan, President & CEO, MGEX said. "Our market participants have confidence in our Hard Red Spring Wheat contract as a reliable risk management product, and the renewed interest in our Soft Red Winter Wheat Index is further evidence of the growing global demand for new and innovative alternatives," Bagan said.
November 2009 dates included in the top 20 record daily electronic volume are outlined below:
- November 11 – 7,249
- November 20 – 7,345
- November 24 – 7,437
- November 18 – 7,865
- November 25 – 8,198
- November 23 – 9,789
- November 3 – 10,592
- November 9 – 18,592
MGEX volume and open interest information can be found on the Exchange’s website at www.mgex.com.