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The Minneapolis Grain Exchange (MGEX or Exchange) announced that it has set a new daily open interest record for its flagship wheat futures contract in each of the last eight trading days. Total open interest in hard red spring wheat futures at the close of markets on Wednesday, September 12, was 64,578 contracts. Open interest (the number of contracts not liquidated by an offsetting trade, delivery or expiration) has been on a steady increase and is currently 39-percent higher than one year ago.
“We are seeing open interest increase in a time when our contract is trading at historically high price levels,” said Mark G. Bagan, President & CEO of the Exchange. “The wheat market is very volatile and volume is growing along with open interest. We are very pleased that part of the growth in volume and open interest is due to new participants in our hard red spring wheat market.”
Open interest and volume records are available on the MGEX website, www.mgex.com, in the lower right corner.
