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A Minneapolis Grain Exchange (MGEX or Exchange) membership sold this morning at a record price of $75,000, a 250-percent increase over this time last year when a membership sold for $30,000. Additionally, 65 memberships turned over in 2006 compared to only 16 in 2005.
Additionally, after ending 2006 with a calendar year record volume more than 16 percent higher than 2005, the MGEX is off to a solid start with January 2007 total volume exceeding last January by 16 percent.
According to MGEX President and CEO Mark G. Bagan, interest in the Exchange continues to grow as is noted by the volume and membership records. “We are poised for a strong 2007 and have dedicated staff resources to grow volume in the spring wheat futures and options contracts and our five financially settled agricultural index futures and options contracts.”
Membership and contract information is available at www.mgex.com or by calling 612-321-7101. For membership specific questions, please contact Adam Reinhart at 612-321-7158.
As a final note, MGEX now has a DVD that includes a history video, an educational tour video and a building video. For more information about obtaining a copy, please call 612-321-7101.
About Minneapolis Grain Exchange
MGEX, established in 1881, is the only market for Hard Red Spring Wheat, National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options. To learn more about the MGEX visit our website at www.mgex.com.
