K.C.B.T. reports record large electronic volume
July 06, 2007
by Ron Sterk
KANSAS CITY — The Kansas City Board of Trade recorded record large electronic wheat futures volume of 153,437 contracts in June, 33% above the previous record set two months earlier.
Total wheat futures volume (electronic and open outcry) was 513,894 contracts in June, the third largest in the K.C.B.T.’s 150-year history. June wheat futures volume was up 104% from May and open interest increased about 5%.
Trading volume increased because volatility associated with ongoing concerns about hard red winter wheat crop size and quality, the K.C.B.T. said. A heavy freeze in early April, followed by storms, excessive rainfall and flooding in parts of the hard red winter wheat belt significantly affected the crop and pace of harvest.
Year-to-date (January-June) wheat futures volume at the K.C.B.T. totaled 2,051,177 contracts, down 18% from the same period a year ago. Open interest in wheat futures at the end of June stood at 127,516 contracts, down 20% from the previous year, exchange data showed.
The K.C.B.T. is the world’s largest futures market for hard red winter wheat.