AMSTERDAM (Commodity Online): NYSE Liffe announced that the daily volume in its Milling Wheat futures contract passed 70,000 contracts for the first time, on 5 August 2010.
Milling Wheat futures reached a record of 74,729 contracts, surpassing the previous record of 50,165 contracts set on 22 July 2010. Total combined Milling Wheat futures and options daily volume set a new record of 86,841 contracts, surpassing the previous record of 64,959 contracts set on 22 July 2010. This is the fourth daily volume record in the Milling Wheat futures contract in the past month.
The need to manage the risks resulting from the price volatility in the underlying European wheat market highlights the importance of the Milling Wheat futures contract as an effective hedging instrument as well as being a key trading tool. The contract has clearly established itself as the benchmark for the European wheat market, said Ian Dudden, Director, Commodity Derivatives.
NYSE Liffe lists a broad range of Commodity Products including Cocoa, Robusta Coffee, White Sugar, Feed Wheat, Milling Wheat, Rapeseed, Corn & Malting Barley, all of which trade exclusively on LIFFE CONNECT.
The contracts are actively traded by a diverse range of participants, including producers, exporters, trade-houses, processors and manufacturers as well as by managed funds and both institutional and short-term/proprietary investors.