MGEX (Minneapolis Grain Exchange or Exchange) set its all-time monthly volume record for electronic trading with 84,834 contracts traded. This surpasses the previous record of 82,931, set in October 2008, with four trading days remaining in the month.
This week MGEX has seen three of its top 10 electronic trading days. The all-time daily electronic trading record was set Tuesday, April 21 with 10,350 contracts traded; the second highest trading day in history was Wednesday, April 22 with 7,762 contracts traded.
“Over the month of April, we have seen extraordinary electronic volume from our flagship contract, Hard Red Spring Wheat,” Roger Hipwell, Vice President of Business Development said. “Futures prices have represented the sentiment of the cash market accurately, and our traditional customers have responded positively, adding depth to the bid/ask of our market.”