Total Volume On Winnipeg Commodity Exchange Gains 13.3% From A Year Ago - Futures And Options Total Trading Volume And Open Interest

Total trading volume on Winnipeg Commodity Exchange Inc.for January 2004 rose 13.3% from the same month a year ago. There were 165,473 futures and options contracts traded during the month.

Volume in feed wheat futures contracts gained 36.7%from last January with 5,415 contracts traded.Canola futures trade moved up 11.9% from the same month a year ago with volume of 145,339 contracts.Trade in western barley futures contracts increased 8.1%to 11,405 contracts.There were 35 flaxseed futures contracts traded during January.

Canola options volume rose significantly from the same month a year ago to 3,279 contracts.

Crop year-to-date trade in options gained 68.6%from the level recorded during 2002/03, while volume in futures contracts declined 8.7%during the same period.There have been 925,780 futures contracts and 24,095 option contracts traded on the Exchange since August 1,2003.

At the end of January 2004,open interest in futures contracts stood at 69,135 represent-ing a decline of 5.6%from the end of January 2003.

Open interest in options was 8,481 as at January 31,2004 which is 67.2%higher than the level recorded a year ago.

Open interest is the number of contracts that have not been fulfilled by delivery or offset by an opposite transaction.

*Please note that volume numbers now include pit trades,Exchange for Physicals (EFP 'S), Exchange for Risk (EFR 's),futures deliveries and options exercises.