Top stories
Minneapolis Grain Exchange
USINFO | 2013-07-10 10:16
The Minneapolis Grain Exchange (MGEX) was formed in 1881 in Minneapolis, Minnesota as a regional cash marketplace to promote fair trade and to prevent trade abuses in wheat, oats and corn.
MGEX has been the principal market for Hard Red Spring Wheat (HRSW) since 1881, offering futures and options contracts based on its unique commodity. HRSW is one of the highest-protein wheats. It is found in bagels, pizzas, high-quality breads and cereals, and some noodles and cookies. It is planted mostly in the U.S. Northern Plains and the Canadian Prairies.
MGEX offers five financially settled agricultural index products: Hard Red Spring Wheat Index (HRSI), Hard Red Winter Wheat Index (HRWI), Soft Red Winter Wheat Index (SRWI), National Corn Index (NCI) and National Soybean Index (NSI).
In an agreement with Data Transmission Network, (now Telvent DTN), a business-to-business electronic commerce and information services company inOmaha, Nebraska, MGEX has exclusive rights to DTNs agriculture and weather data bases, which the exchange uses to develop index products.
Futures are traded exclusively electronically on the CME Globex platform. Options are traded side-by-side.
MGEX has been the principal market for Hard Red Spring Wheat (HRSW) since 1881, offering futures and options contracts based on its unique commodity. HRSW is one of the highest-protein wheats. It is found in bagels, pizzas, high-quality breads and cereals, and some noodles and cookies. It is planted mostly in the U.S. Northern Plains and the Canadian Prairies.
MGEX offers five financially settled agricultural index products: Hard Red Spring Wheat Index (HRSI), Hard Red Winter Wheat Index (HRWI), Soft Red Winter Wheat Index (SRWI), National Corn Index (NCI) and National Soybean Index (NSI).
In an agreement with Data Transmission Network, (now Telvent DTN), a business-to-business electronic commerce and information services company inOmaha, Nebraska, MGEX has exclusive rights to DTNs agriculture and weather data bases, which the exchange uses to develop index products.
Futures are traded exclusively electronically on the CME Globex platform. Options are traded side-by-side.
