MINNEAPOLIS, MINNESOTA, U.S. — The Minneapolis Grain Exchange (MGEX), a designated contract market (DCM) and derivatives clearing 0rganization (DCO), announced on Oct. 1 that it opened the new fiscal year by setting a September electronic trading record with 122,800 futures and options contracts trading electronically.

September was also the fifth highest electronic month in the history of the exchange.

September’s total exchange volume reached 142,804, a more than 15% increase over the year ago period. The number brings the calendar year to date volume to 1,236,141 contracts traded, surpassing the previous total calendar year volume with three trading months remaining.

Trading of the MGEX flagship hard red spring wheat (HRSW) contract totaled 141,145 contracts, a 17% increase over September 2009. Total exchange month-end open interest was 68,155 or 26% higher than September 2009.

"Challenges stemming from worldwide crop concerns have led to increased U.S. wheat prices and in turn, supported volume growth in our spring wheat contract," Mark G. Bagan, president and chief executive officer, MGEX said. "Furthermore, U.S. spring wheat harvests have yielded higher protein levels than last year, bringing additional interest to our flagship contract."