Any MGEX Locals on ET?

Discussion in 'Commodity Futures' started by jsmooth, Jan 16, 2007.

  1. jsmooth


    I was wondering if there are any MN Grain Exchange Locals on ET? I'm considering leasing a seat & office at the MGEX to trade MN Wheat and the MN Wheat/CBOT Wheat spread. Anyone know what kind of volume the they got in the MGEX pits? Or what kind of size MN locals are trading with? I'm going to head up to MN within a few weeks to observe trading for a few days before i make a decision, but i'd love to talk with someone whos already trading there or has any information on the kind of volume done in those pits.

    I talked to the exchange last week and their lease price are only around $120, and office space around the trading pits (with computer/phone hookup) are between $300 - 500. Those prices seem like a steal compared to those at the CBOT & KC...and margin rates to trade the spread are also dirt cheap so logically it seems like trading the open outcry spread and electronic wheat & corn (MN & Chi) might be worth looking into. Any MGEX, CBOT, or KCBT traders have any comments/suggestions? Thanks!
  2. Hedge22


    Sorry to bring up an old topic, but did you happen to check out the MGEX? Im also interested in it, and curious to what your thoughts about it were, are the trading sessions open for the public to watch?