GFM Network News


Options market operator buys last independent U.S. grain exchange

MIH makes deal to buy Minneapolis' MGEX

Chicago | Reuters — Options exchange operator Miami International Holdings (MIH) will acquire the 139-year-old Minneapolis Grain Exchange, the last independent U.S. grain exchange, the organizations said in a statement on Friday. Best known for its flagship hard red spring wheat futures contracts, the MGEX, founded as the Minneapolis Chamber of Commerce in 1881, will […] Read more

Run the numbers and don’t be buffaloed by basis

Run the numbers and don’t be buffaloed by basis

Your grain company likely uses unadjusted basis in U.S. dollars, 
but you want basis and the cash price in the same currency

Reading Time: 2 minutes Wheat basis has been a hot topic this year and a weak loonie has continued to make it an issue, says a provincial market analyst. Basis is calculated as the difference between the cash market price and the relevant futures price. Spring wheat futures, as traded on the Minneapolis Grain Exchange (MGEX), are generally used […] Read more