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Electronic trading of Hard Red Spring Wheat (HRSW) futures and options today reached 11,146 contracts at MGEX (Minneapolis Grain Exchange or Exchange), marking the highest electronic trading volume in Exchange history. The new number exceeds the former record of 10,350 futures and options contracts traded electronically by 796 contracts.
The trading activity comes on the heels of near-record trading yesterday where 9,621 futures and options contracts traded, and a record May 2009, where MGEX reached the top five in monthly electronic volume and enjoyed a 29 percent volume increase over May 2008. The top five electronic volume days have come within the last 30 trading days.
“There is increasing interest in the commodity markets from other investors.” says Mark G. Bagan, President and CEO of MGEX. “Volatility is bringing new players to the market, which translates into new opportunities for all market participants. Today’s volume reflects our contract users’ continued desire for exposure to Hard Red Spring Wheat.”
