MGEX (Minneapolis Grain Exchange or Exchange) August 2009 volume increased 37 percent over July to 118,252 contracts traded. Futures trading of the flagship Hard Red Spring Wheat (HRSW) contract increased by 36 percent while options trading increased by 75 percent.
MGEX August 2009 open interest increased by six percent over the same period a year ago to 43,531 contracts. Open interest totals include futures and options of HRSW as well as open interest held in the MGEX Hard Red Winter Wheat Index (HRWI) contract.
The Exchange also experienced continued record electronic trading during August with 97,093 contracts trading electronically during the month. This makes August 2009 the third highest electronic trading month in Exchange history.
“The August volume and open interest increase is evidence that the marketplace has confidence our contract’s representation of the cash market,” Mark G. Bagan, President & CEO of MGEX said. “The liquidity of our contracts provides the global marketplace with a reliable venue to execute their risk management strategies.”