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Minneapolis
Grain Exchange Announces New Margin Requirements And Spread Credits
- December 3, 2003
MINNEAPOLIS—The Minneapolis Grain Exchange (MGEX) Board of
Directors has approved margin requirements and spread credits for
the futures contracts listed below, effective December 4, 2003.
| Speculative Margins |
Initial (per contract) |
Maintenance (per contract) |
| National Corn Index (NCI) |
$390 |
$300 |
| National Soybean Index (NSI) |
$650 |
$500 |
| Hard Winter Wheat Index (HWI) |
$975 (up from $650) |
$750 (up from $500) |
| Spring Wheat Index (SWI) |
$975 |
$750 |
| Soft Red Wheat Index (SRI) |
$975 |
$750 |
| Spring Wheat |
$975 (up from $650) |
$750 (up from $500) |
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| Hedge Margins |
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| National Corn Index (NCI) |
$300 |
$300 |
| National Soybean Index (NSI) |
$500 |
$500 |
| Hard Winter Wheat Index (HWI) |
$750 (up from $500) |
$750 (up from $500) |
| Spring Wheat Index (SWI) |
$750 |
$750 |
| Soft Red Wheat Index (SRI) |
$750 |
$750 |
| Spring Wheat |
$750 (up from $500) |
$750 (up from $500) |
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| Inter-Commodity Spreads |
|
Spread Credit % Savings |
| NCI vs. NSI |
|
50% |
| HWI vs. Spring Wheat |
|
100% |
| SWI vs. Spring Wheat |
|
100% |
| SRI vs. Spring Wheat |
|
100% |
| HWI vs. SWI |
|
100% |
| HWI vs. SRI |
|
100% |
| SWI vs. SRI |
|
100% |
| Inter-Exchange Spreads –
MGEX Side |
| MGEX NCI vs. CBOT Corn |
|
100% |
| MGEX NSI vs. CBOT Soybeans |
|
100% |
| MGEX HWI vs. CBOT Wheat |
|
100% |
| MGEX HWI vs. KCBT Wheat |
|
100% |
| MGEX SWI vs. CBOT Wheat |
|
100% |
| MGEX SWI vs. KCBT Wheat |
|
100% |
| MGEX SRI vs. CBOT Wheat |
|
100% |
| MGEX SRI vs. KCBT Wheat |
|
100% |
| MGEX Spring Wheat vs. CBOT Wheat |
|
60% |
| MGEX Spring Wheat vs. KCBT Wheat |
|
60% |
MGEX, established in 1881, is the only market for hard red spring
wheat, Hard Winter Wheat Index (HWI), National Corn Index (NCI)
and National Soybean Index (NSI) futures and options. For
more information about MGEX, visit www.mgex.com.
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