MGEX, a Designated Contract Market and Derivatives Clearing Organization, on Wednesday announced electronic futures and options trading of its flagship Hard Red Spring Wheat (HRSW) contract reached an estimated 17,409 contracts, the fifth highest electronic trading day in MGEX’s 130 year history. The record comes one day after the Exchange reported a top three electronic trading day. June 7 electronic trading volume was 18,322 contracts.
Total Exchange volume also reached a milestone today with an estimated 18,668 contracts traded or the ninth best total Exchange volume ever at MGEX. June 7 total Exchange volume was the seventh highest in history with 18,933 total futures and options contracts traded.
“Planting progress in spring wheat areas is at its lowest pace since 1981,” Joe Victor, Business Development Specialist, MGEX said. “Transportation challenges because of widespread flooding added to market uncertainty,” Victor said.
Source: Minneapolis Grain Exchange