Crop year-to-date total options pit trade in 2001/02 witnessed an 8.2% increase reaching 39,701 contracts, well ahead of the 36,709 contracts traded during the same period one year earlier. Within this total, canola options volume levels contributed to the overall increase in crop year-to-date options volume levels. Canola options saw a 31.8% increase reaching 38,963 contracts, well ahead of the 29,566 contracts set in the 2000/01 crop year.
Overall, total futures volume for February 2002 was 35.5% lower than the 316,272 contracts recorded for the same period a year ago. With the Exchange for Physicals (EFPs) included, February 2002 futures trading volume totaled 213,078 contracts. Within this total, canola pit trade of 172,664 contracts had a average of 8,633 contracts traded daily, the last time this level was reached was May of 2001 at a daily average of 8,896 contracts. As well, total futures volume at 204,072 contracts in February saw a daily average pit trade of 10,203 contracts. The last time this level was reached for total futures was in May 2001 at 10,820 contracts.
Total futures and options pit trade combined for the month of February declined from a year ago, totaling 205,775 contracts, compared to 320,843 contracts in 2001. Overall decreases in canola, feed wheat and flaxseed futures were the main factor behind the overall decline seen in total pit trade volume in February. Total futures and options open interest levels as of February 28, 2002 were 76,033 contracts, 38.2% below year-ago levels
