Western barley trade was active in the last half of the month, with monthly trade totalling 21,052 contracts compared to the 25,385 contracts traded in the same month one year earlier. Total futures open interest on May 31, 2002 was 61,683 contracts, 48.2% below the 119,171 contracts open on May 31, 2001.
It should be noted that through the first ten months of the 2000/01 crop-year, (through May 2001) combined volume exceeded that of all previous crop-year totals. Trading in the current crop year is witnessing more traditional levels in both futures and options pit trade volumes. Open interest levels are also at more traditional levels.
Total futures and options pit trade combined for the month of May declined from a year ago, totaling 150,627 contracts, compared to 258,550 contracts in 2001. Canola, flaxseed and feed wheat futures were the main factors behind the overall decline. Total futures and options open interest as of May 31, 2002 was 67,071 contracts, 53.8% below year-ago levels.
Crop year-to-date total futures pit trade for 2001/02 was down 22.3% at 1,825,665 contracts compared to 2,350,581 contracts in the 2000/01 crop year. Crop year-to-date futures and options pit trade combined in 2001/02 has been 1,874,318 contracts compared to the 2,430,057 contracts reached during the same period in the 2000/01 crop year.
