Minneapolis Grain Exchange Breaks Annual Volume Record
Date 04/01/2000
The Minneapolis Grain Exchange is pleased to announce several annual volume records.
Total futures and options volume for 1999 at the Minneapolis Grain Exchange hit 1,188,815 contracts, breaking last year's record. Previous record volume, set in 1998, was 1,169,533 contracts.
Total options volume for 1999 increased 21 percent to 53,870 contracts. The previous options volume record was set in 1997, when a total of 47,710 contracts traded. Total futures volume was 1,134,945 contracts, also breaking last year's record.
Spring wheat, the Exchange's flagship contract, set a record of its own with total volume of 1,119,812 contracts. This exceeded the 1998 record volume by 26,848 contracts.
"1999 was a difficult year to manage commodity price risk," said James H. Lindau, president and CEO.
"The high level of activity shows more people understand the role of the futures exchange in managing risk for everyone in the food chain--from farmers to flour millers," Lindau added.
The Minneapolis Grain Exchange, established in 1881, is the only futures market for hard red spring wheat, white wheat, durum wheat, black tiger shrimp, white shrimp and Twin Cities Electricity on- and off-peak futures and options. For more information about the Exchange, browse http://www.mgex.com.
