The Minneapolis Grain Exchange (MGEX or Exchange) announced today that with three trading days still remaining, April’s electronic hard red spring wheat futures volume has already exceeded the previous monthly volume record set in February 2007. As of the close of trading on April 25, the electronic volume for hard red spring wheat futures was at 38,016 contracts, more than 5,000 contracts above the previous record.
“Since side-by-side trading was introduced at the Exchange in August of 2006, electronic volume has continued to increase and new players continue to enter the hard red spring wheat market,” said James D. Facente, Director, Market Operations, Clearing and IT. “Overall volume at the MGEX is also growing and total spring wheat futures volume for April 2007 has already exceeded that of April 2006 and is currently the 10th highest volume month in the history of the Exchange.”
Additionally, the Exchange continues to see membership values at an all-time high with seven membership sales in April – the last two at the all-time high price of $135,000.
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.
