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.
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.
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).
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.
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.
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