MGEX Has 2nd Best Month; Opening Export Market to Cuba
MGEX has recorded the 2nd-best month in its storied history, reporting a total volume of 221,410 from February. MGEX also saw its electronic volume from February finish the month at 197,456, making it the highest electronic volume month ever for the Exchange. February’s conclusion marks the seventh-consecutive month that MGEX has recorded a total volume of more than 150,000. Total volume from February increased by eight percent over that of February 2014.
Many ag groups and politicians are pushing for the U.S. to open up the export market to Cuba. Now Some Minnesota lawmakers are pushing for the state to use $100,000 to promote agriculture exports to the island nation. A bipartisan bill to set the money aside in a pair of $50,000 installments was due for a hearing Tuesday before the House Agriculture Finance Committee. In December, U.S. officials announced steps to begin normalizing relations with the communist island nation after decades of hostility. It triggered high expectations of that an eased trade embargo was not far off.