Winnipeg Commodity Exchange New Open Interest Records Established In March

New open interest records for futures were established this month. On March 15, total futures open interest reached a record 106,016 contracts. The previous record for total futures open interest was 105,346 contracts set on October 15, 1999. Within that, May canola reached a new open interest record of 36,406 contracts. A new daily pit trade volume record for May canola was also established March 17, at 8,786 contracts. The previous record was 6,767 contracts, established on March 12, 1997.

Total futures volume for March 2000 was up almost 30% compared to March 1999. Canola, flaxseed, western barley and feed wheat all showed significant volume increases over year ago monthly volumes. Total options volume was up almost 40% compared to March 1999, with three of the four commodities showing large increases.

Crop year-to-date volume statistics show futures volume up 10% over the previous crop year. Canola and western barley's crop year-to-date volumes have experienced the largest increases, at 9% and 30%, respectively. Options volume crop year-to-date is up 67% over the previous crop year.

Looking at calendar year-to-date statistics, futures volume is up 14% over last year at this time and options volume is up 33%. Western barley options volume has increased from 30 contracts in the first three months of 1999 to 2,138 contracts in the first three months of 2000.

Open interest ended the month up 31% for futures and up 68% for options compared to open interest a year ago. Western barley futures open interest ended the month almost double what it was one year