Pit trade volume in the January 2001 canola futures contract attained all-time highs, up 33.3%, to 183,346 contracts, well surpassing the previous record of 137,528 contracts established in January 2000.
According to market sources, active commodity fund trading supported the liquid trade activity observed throughout January 2001. As well, large volumes of exports, thought to be sold to China and Mexico, were contributing factors to record volumes in canola for the month of January.
“Above normal exports and large (commodity) fund positions in the market definitely contributed to high volume levels, with funds likely to continue to be active into the coming months,” explained one market source.
WCE provides the world’s premier price discovery and risk management tool for canola. Canola is the most actively traded commodity on WCE and has been trading since 1963; options on canola futures have been available since 1991.
Total futures volume in January 2001 also exceeded previous records for the month of January, with pit trade volume reaching 225,396 contracts, 24.7% higher than the previous record attained in January 2000. Contributing factors to the growth in total futures volume were increases in both canola and western barley futures volumes, up 33.3% and 7.3% respectively from January 2000.
As well, record pit trade levels were achieved in combined futures and options for the month of January, up 24.2% to 231,251 contracts, from the previous record established in January 2000. This record in total futures and options volume is the fourth highest monthly pit trade volume recorded in any month at WCE.
WCE trades futures contracts in: canola, western barley, flaxseed, oats, feed wheat and field peas; and options contracts in: canola, flaxseed, feed wheat and western barley. Established in 1887, Winnipeg Commodity Exchange is a not-for-profit organization providing financial instruments for price discovery and the transference of risk in an efficient and open manner.
