Last week was the first week of trading for the new Canadian ICE wheat futures contract. Here are a few details on the first week's trade.
Total volume for the wheat and durum contracts was a whopping 23 contracts in wheat and 37 contracts in durum. It is interesting that durum garnered more trades than wheat. While the volume of trading will probably increase slowly, it is doubtful there will ever be enough volume to make either the durum or the wheat ICE futures viable. It does look like the relative futures values reflect almost identical cash prices as what northern North Dakota elevators are posting.
Some people will argue that the Minneapolis wheat futures contract is barley usable as a commerc...
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