With two days of trading left, the Minneapolis Grain Exchange has already exceeded the record trading volume for the month of April. Open interest in the spring wheat futures contract has also climbed to the 11th highest in the history of the Exchange.
Trading volume in the Exchange’s flagship hard red spring wheat contract reached 163,792 contacts at the close of trading yesterday breaking the previous record by more than 5 percent and earning the current rank of fifth highest volume month in MGEX history. Final spring wheat volume for April is anticipated to move even higher on that list.
Open interest levels are 17-percent above the same time last year at 58,083 versus 49,271. The growth in volume and open interest has been fueled by increased trade activity in the electronic markets, volatility in the grain markets and the growing attraction of commodities in the eyes of financial investors.
