Minneapolis Wheat Futures Open Interest Tops 30,000

The Minneapolis Grain Exchange (MGEX) announced today a new daily open interest record in hard red spring wheat futures. At the close of trading on October 10, 2001, spring wheat futures open interest stood at 30,213 contracts. The previous daily open interest record of 29,708 contracts was set February 23, 2001.

Scott Doely of Benson-Quinn Commodities, Inc., said, "We're seeing a lot more inter- market spread activity between Minneapolis wheat and Chicago wheat, which leads to higher open interest."

Adding to that comment, Mike Kvistad, also of Benson-Quim Commodities, Inc,., said, "This is good news for the Exchange, good news for the market and good news for the people who use the markets."