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MGEX Reports Record 2003-04 Volume
MINNEAPOLIS - Sep 2/04 - SNS -- Trading volume on the floor of the Minneapolis Grain Exchange (MGEX) reached a record 1,377,519 contracts for the 2003-2004 fiscal year, which ended August 31, well above the previous record was set in 1999 when 1,237,813 contracts traded.
August 2004 hard red spring wheat futures volume recorded the highest monthly volume since the contract originated in 1883. Last month's volume reached 162,153 contracts, the equivalent of 810,765,000 bushels of wheat. Four days in August were recorded in the top 15 all-time daily futures volume records.
"The all-time record month of August caps off a great fiscal year for the Minneapolis Grain Exchange, and helps to set the table for our wheat, corn and soybean index contracts launching in December," said Ray Lottie, chairman of the Minneapolis Grain Exchange Board of Directors.
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