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KCBT Sets Volume Record
KANSAS CITY - Mar 2/05 - SNS -- The Kansas City Board of Trade saw a record volume of wheat futures trading in February, with 345,923 contracts changing hands, up 6.4% from the previous record of 325,246 contracts that was set in November 2004.
Significant short-covering by fund-related business contributed to the record, with that group of market participants helping establish a single day volume record of 34,874 contracts on February 22.
Total exchange volume for the month of February was the second largest in the history of the exchange. A total of 365,811 contracts were traded, falling shy of the record of 383,760 contracts set in September 2002 by only 17,949 contracts.
Year-to-date volume for the wheat futures contract is running 20.3% ahead of last year’s figure at this time. Total exchange volume is running 14.3% ahead of last year at this time.
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