The membership rally continues at the Minneapolis Grain Exchange (MGEX or Exchange), which announced that membership values continued to rise with three sales on Wednesday at the record prices of $85,000 for two and $90,000 for one. These three sales follow on the heels of two others that occurred on Feb. 12 at $80,000.
In addition to record membership sales, February 14 posted the third highest day for electronic trading volume in the flagship hard red spring wheat contract with 3,367 contracts traded. It was also the 12th highest daily trading volume (electronic and pit) in the Exchange’s history. Trading volume totaled 14,901 contracts yesterday.
According to Mark G. Bagan, president and CEO of the Exchange, the increased volume and membership sales are consistent with the strong growth pattern the Exchange has been in for the past 18 months. “This is an exciting time for the Minneapolis Grain Exchange, and we are very well positioned for greater success given our talented team of employees,” he said. “Interest in the MGEX as an investment continues to grow and we look forward to even more accomplishments as 2007 continues.”
Information on the MGEX contracts, as well as charts and graphs regarding performance, is available at www.mgex.com. For specific information on MGEX membership, contact Adam Reinhart at 612-321-7158 or areinhart@mgex.com. A history of membership sales is available at http://www.mgex.com/seat_prices_2.html.
About Minneapolis Grain Exchange
MGEX, established in 1881, is the only market for Hard Red Spring Wheat, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options. To learn more about the MGEX visit our website at www.mgex.com. An Equal Opportunity Employer.
