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The Minneapolis Grain Exchange (MGEX or Exchange) ended 2006 with record annual volume and a record membership sale. Calendar year 2006 volume exceeded the previous year by 16.4 percent closing the year with total volume of 1,655,034 futures and options contracts traded.
MGEX membership prices continue to rise with a sale on Dec. 28 at the record price of $72,500 – a 242-percent increase over a year ago when memberships were selling for $30,000.
According to Mark G. Bagan, president and CEO of the Exchange, the increase in volume and membership is due to strong growth in the commodity markets and industry confidence in the MGEX. “We’re poised for strong growth in both our spring wheat contract and our five financially settled agricultural index products,” he said. “The index products have had volume in the past and recent industry issues have sparked renewed interest. We’ve also added staff and placed a priority on growing all of our contracts in 2007. We’re confident the record increases of 2006 will continue in 2007.”
Information on the MGEX contracts, as well as charts and graphs regarding performance, is available at www.mgex.com. For specific information on MGEX contracts, contact Joe Albrecht, Sales/Marketing Specialist at 612-321-7151 or jalbrecht@mgex.com.
