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The Minneapolis Grain Exchange (MGEX or Exchange) announced a record membership sale at $70,000 on Nov. 21. That is nearly three times higher than membership values in November of 2005 when two memberships sold for $27,500.
“The continued increase in our membership values is clearly a sign that the industry supports the Exchange and expects strong performance in the future,” said MGEX President & CEO Mark G. Bagan. “Our recent records speak for themselves. In addition to the upward movement of membership values, we’ve already exceeded the trading volume recorded for all of 2005 and have more than a month of trading activity left to record. I expect to see these records continue to be broken.”
Total MGEX volume as of Nov. 21, 2006 was 1,525,329 contracts – more than 100,000 contracts above the total 2005 volume. Information on MGEX volume and open interest is available at www.mgex.com.
