MGEX Shatters Previous Daily Volume Record By 23 Percent

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reports a total volume of 33,453 from Tuesday, making it the best daily volume in MGEX’s history. This surpasses the previous record set on January 12, 2017 when 27,095 contracts traded by 23 percent.

“Poor crop conditions in key Hard Red Spring Wheat growing regions have been a factor in the increased activity at MGEX,” stated Mark G. Bagan, President & CEO, MGEX. “Producers are bearing the brunt of the drought and bad weather. In times of great uncertainty, hedging with MGEX futures and options products continues to grow. MGEX remains a consistent and reliable marketplace for market participants to manage risks to their business.”

Open interest following Tuesday’s activity was 94,292, making it the 5th-highest open interest daily total of all-time. There are now three days that have reached top 10 open interest records, all of which have occurred consecutively since June 9. Open interest has seen a 46 percent increase from this time a year ago.