The 2004 calendar year record comes after a year of daily and monthly records. Six monthly records were set in the months of January, February, March, August, November and December. November 2004 exchange volume recorded the highest monthly volume since the exchange originated in 1883. Trading volume reached 165,833 contracts, the equivalent of 811,320,000 bushels of wheat. August 2004 and February 2004 hold second and third highest all-time monthly volume. The top five all-time daily records were set in 2004 along with the top 15 days of open interest.
2004 hard red spring wheat futures totaled 1,379,694 contracts which surpassed the previous record set in 2002 when 1,199,149 contracts exchanged hands. Hard red spring wheat futures surpassed seven monthly records in 2004; January, February, March, May, August, November and December.
“The records set in 2004 top off an exciting year at the Minneapolis Grain Exchange. We greatly appreciate the support of our customers and our members in the achievements made this year,” said Kent Horsager, president and ceo of the Minneapolis Grain Exchange. “With the recent addition of five index futures and options contracts and overnight trading in spring wheat, we hope to set even more records in 2005.”
MGEX, established in 1881, is the only market for hard red spring wheat, national corn index, national soybean index, hard red spring wheat index, hard red winter wheat index and soft red winter wheat index futures and options. www.mgex.com
