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The Minneapolis Grain Exchange (MGEX or Exchange) announced today that daily open interest for its flagship hard red spring wheat futures contract has set a new record at 71,148 contracts as of the close of markets on Wednesday, Sept. 26. Open interest (the number of contracts not liquidated by an offsetting trade, delivery or expiration) has been on a steady increase and is currently 55-percent higher than one year ago.
“Open interest is a good indicator of market liquidity,” says James D. Facente, Director of Market Operations, Clearing and IT at the MGEX. “Open interest has climbed throughout the month of September with our top 15 open interest days occurring this month. Volume has also been strong in September. In addition to the wheat contract performance, we’ve had increasing open interest in our financially settled index contracts as well.”
Open interest and volume records are available on the MGEX website, www.mgex.com, in the lower right corner.
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.
