Total futures volume for January 2002 was 19.4% lower than the 225,396 contracts recorded for the same period a year ago. Monthly volume in feed wheat showed a slight increase over year-ago levels however, this was offset by a decline in canola, flaxseed and western barley futures pit trade and a lack of trade in field peas. With the Exchange for Physicals (EFPs) included, January 2002 futures trading volume totaled 202,642 contracts.
Crop year-to-date total options pit trade in 2001/02 witnessed an 18.3% increase reaching 37,998 contracts, well ahead of the 32,117 contracts traded during the same period one year earlier. Within this total canola options volume levels contributed to the overall crop-year options volume level for January. Canola options saw a 46.1% increase reaching 37,292 contracts, well ahead of the 25,531 contracts set in the 2000/01crop year.
Total futures and options pit trade combined for the month of January declined slightly from a year ago, totaling 186,047 contracts, compared to 231,251 contracts in 2001. Overall decreases in canola, western barley and flaxseed futures were the main factor behind the overall decline seen in total pit trade volume in January. Total futures and options open interest levels as of January 31, 2002 was 88,243 contracts, 20.9% below year-ago levels.
