Today, Minneapolis Grain Exchange announced record volumes for April 2011. With 174,280 contracts traded in the month, April was a top 15 month for total volume in the Exchange’s 130 year history. April 28 saw 17,932 contracts trade, the eleventh-highest volume day in the history of MGEX. The same day saw trading of Hard Red Spring Wheat (HRSW) options set a new daily volume record when 4,623 options contracts traded at MGEX. Electronic trading volume reached 144,577 last month, marking the best April electronic volume on record and the sixth-best electronic trading month in history.
The April records fueled a 47 percent total volume increase over the same period a year ago, with options volume up 152 percent over April of last year. Additionally, April’s volume marked a 12 percent increase over March 2011.
The trend of year-over-year open interest growth continued last month as Exchange total open interest increased 43 percent over the previous April.
“The commodities industry is experiencing incredible volatility which is bringing new participants to our market,” Joe Albrecht, Vice President, Business Development, MGEX said. “The resulting volume in our spring wheat contract proves the global marketplace continues to look to MGEX for its risk management needs,” Albrecht said.
Source: Minneapolis Grain Exchange (MGEX)