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The Minneapolis Grain Exchange (MGEX) is a commodities and futures exchange of grain products. It was formed in 1881 in Minneapolis, Minnesota, United States as a regional cash marketplace to promote fair trade and to prevent trade abuses in wheat, oats and corn.
In 1982, the exchange introduced Value Line futures, making it the first exchange offering a stock index futures contract. Options on Value Line futures were introduced in 1992. As of December 12, 2004, the Value Line futures began trade solely through an electronic trading platform. Value line futures have since been de-listed.
A trader, for example, might buy a futures contract on crude oil at 10:00 a.m. for $70 and sell it at 3:00 p.m. for $72. Futures may offer a glimpse of what you ultimately pay for in a range of goods.
The Grain Futures Act (ch. 369, 42 Stat. 998, 7 U.S.C. § 1) is a United States federal law enacted September 21, 1922 involving the regulation of trading in certain commodity futures, and causing the establishment of the Grain Futures Administration, a predecessor organization to the Commodity Futures Trading Commission.
In 1864, in the United States, wheat, corn, cattle, and pigs were widely traded using standard instruments on the Chicago Board of Trade (CBOT), the world's oldest futures and options exchange. Other food commodities were added to the Commodity Exchange Act and traded through CBOT in the 1930s and 1940s, expanding the list from grains to ...
Beginning with wheat futures, it subsequently added futures trading in barley, oats, flax, and rye. In 1908, the Exchange was re-organized as a voluntary, non-profit organization, changing its name to the Winnipeg Grain Exchange. [7] In 1972, with the opening of the market in gold futures, the Exchange was renamed the Winnipeg Commodity ...
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Wall Street's main indexes rose in volatile trading on Tuesday, as investors looked for bargains after a rout in the previous session, while dovish rate commentary from Federal Reserve officials ...