CME Group announces Corn futures reaching new daily volume record
International derivatives marketplace CME Group has announced that its Corn futures reached a new daily volume record of 1,206,376 contracts on October 9, surpassing the previous record of 1,128,597 contracts traded on March 29, 2019.
“Following last week’s surprise USDA report, market participants turned to our Corn futures to quickly adjust positions and manage price risk,” said John Ricci, Global Head of Agricultural Products. “The market had priced in lower yields after a challenging summer, yet the report showed ending stocks, yields and production all above expectations. The changing conditions are another example of why we remain focused on equipping clients to manage their risk in any market environment.”
CME Group’s agriculture business reached an average daily volume of 2,022,488 contracts in the third quarter, up 18.1% year over year. In September, average daily volume reached 1,936,761 contracts, up 28.8% year over year.
In addition, Corn futures reached an average daily volume of 502,004 in the third quarter, up 35.2% year over year, and Corn options reached an average daily volume of 179,674, up 31.4% year over year.
“Following last week’s surprise USDA report, market participants turned to our Corn futures to quickly adjust positions and manage price risk,” said John Ricci, Global Head of Agricultural Products. “The market had priced in lower yields after a challenging summer, yet the report showed ending stocks, yields and production all above expectations. The changing conditions are another example of why we remain focused on equipping clients to manage their risk in any market environment.”
CME Group’s agriculture business reached an average daily volume of 2,022,488 contracts in the third quarter, up 18.1% year over year. In September, average daily volume reached 1,936,761 contracts, up 28.8% year over year.
In addition, Corn futures reached an average daily volume of 502,004 in the third quarter, up 35.2% year over year, and Corn options reached an average daily volume of 179,674, up 31.4% year over year.