Minneapolis Grain Exchange Waives Trading Fees

Due to what is shaping up to be a financially promising fiscal year, the Minneapolis Grain Exchange will waive futures and options trading fees during July and August. In addition, local traders are exempt from clearing fees for the same time period. June trading volume in hard red spring wheat futures at the Exchange is currently on pace to establish a new monthly record. Record daily trading volume of 11,243 contracts was established in hard red spring wheat futures on June 3, 1999. "MGE anticipates continued high levels of trade for the next 2 months," said James H Lindau, president and CEO of the Minneapolis Grain Exchange. "The Exchange is taking steps to reduce the cost of risk management for wheat buyers and sellers until the hard red spring wheat harvest is over late this summer." The Minneapolis Grain Exchange established in 1882, is the only futures market for hard red spring wheat, white wheat, durum wheat, black tiger shrimp and white shrimp. The MGE also now trades on-peak and off-peak Twin Cities Electricity futures and options.