is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist
Corn+Soybean Digest

Grain Exchange Launches Electronic Trading

The Minneapolis Grain Exchange (MGEX) introduced its new electronic trading platform, MGEXpress, Feb. 15.

The new contract offering, listed on the MGEX as the National Corn Index (NCI) and National Soybean Index (NSI), will be the first U.S. cash-settled futures and options for grains and oilseeds. The unique aspect of the MGEX contracts is that there is no delivery alternative; the futures and options contracts expire simultaneously.

The settlement indexes are based on roughly 1,500 country elevator bids that are calculated daily by Omaha-based Data Transmission Network (DTN).

NCI and NSI futures and options contracts will settle to a three-day average of the NCI and NSI, respectively. DTN collects elevator bids daily for U.S. No. 2 yellow corn and U.S. No. 1 yellow soybeans and averages them to arrive at the NCI and NSI.

The contracts will reflect country-origin pricing for corn and soybeans.

For more information on the new contracts, visit www.mgex.com.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish