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Welcome to the latest edition of the Grain Futures Update. ASX sends this newsletter each month to keep you informed about news and events.

Record volume January capped off a record quarter for ASX Grain Futures during which more than 2.4 million tonnes of Australian grain and oilseed traded (PDF 125KB). The growth in market activity has been driven by the two ASX milling wheat contracts, WAW (PDF 82KB) and AWM. The record activity has continued this month, with benchmarks set for the month of February (>43,000 contracts) as well as daily volume with a record 11,138 contracts.

Record open interest Open Interest for the ASX Grain Futures market is at a record level for February, following January deliveries, and is currently greater than 1.6 million tonnes (PDF 125KB).

Western Australia Wheat (WAW) Futures trades 1 million tonnes The WAW futures contract has already traded one million tonnes and Open Interest is just over half a million tonnes. The January delivery period processed smoothly with the WAW contract settling at $204 Track, in line with the physical market.

Record deliveries Deliveries against January 2010 contracts exceeded 180,000 tonnes of Australian grain and oilseed. Although the volume being delivered is increasing, ensuring effective convergence, deliveries as a percentage of overall trade is declining and now stands at approximately 7.5%. Delivery Analysis (PDF 108KB).

Post harvest strategy for growers If you need to sell your grain, but would like to retain an interest in the market in case there is a post sale rally, you may find the strategy of the month of interest.

World Grains Trade Summit, Singapore - presentation (PDF 536KB) ASX was invited to present at the World Grains Trade Summit, recently held in Singapore. The presentation (PDF 536KB) provided an introduction for international end users and traders alike on the ASX milling wheat futures contract offering (WAW and AWM) and how they can be applied to hedge their Australian wheat requirements.

Daily activity report (PDF 152KB) ASX provides a daily activity report (PDF 152KB) which details the market activity for the preceding trading day. If you would like to receive this free service and benefit from the price transparency and market information please contact ASX.

Find a broker To access the ASX Grain Futures and Options market directly you will need to contact an ASX Grain Futures broker. If the world of derivatives and hedging is new to you, you may find the services of a risk management adviser particularly useful. View the list of ASIC licensed risk management advisers.

NOTICE © 2010 ASX Limited, 20 Bridge Street, Sydney NSW 2000, Australia. Ph. 131 279. All Rights Reserved. ASX Limited believes that all information contained herein is accurate and reliable. However no warranty of accuracy or reliability as to such information is given and no responsibility for loss arising in any way from or in connection with errors or omissions in any information (including responsibility to any person by reason of negligence) is accepted by ASX Limited, its subsidiaries or their employees. The information contained in this email should in no way be construed to constitute financial advice or a recommendation by ASX Limited with respect to the purchase or sale of any securities. Independent professional advice should be sought before making any investment decision.