Canola futures pit-trade volume reached 195,714 contracts in May 2001, 16.4% higher than the year-ago level of 168,164 contracts. July 01 canola futures also reached a new open interest record for July canola contracts, on May 24, 2001 at 45,414 contracts, well ahead of the previous record of 41,635 contracts established in the July 00 contract last year. Open interest levels in canola futures as of May 31, 2001 were 23.3%, higher than the 69,898 contracts observed on the same date one year earlier at 86,187 contracts.
Total monthly futures pit trade, for all commodities combined, for the month of May reached 238,050 contracts, 14.2% higher than one year ago. Increases in canola and western barley futures volume levels were main factors behind the overall increase in total futures volume. Total futures open interest for all commodities combined was higher, up 14.7%, at 119,171 contracts as of May 31, 2001, compared to the 103,888 contracts open on May 31, 2000.
Options trade witnessed substantial growth in pit-trade volume levels through the month of May, with canola options actively traded throughout the month. Total options and futures pit trade combined was 19.1% higher than one year earlier, at 258,550 contracts, while total options pit trade increased 134.7% from May 2000 to a record 20,500 contracts. Increases in both canola and flaxseed options, up 148.4% and 28.4% respectively, for the month were the main contributing factors to the increase in total options volume. Total options open interest reached a record 26,236 contracts June 1, 2001. The previous record was 26,089 contracts set on June 7, 2000.
