The Minneapolis Grain Exchange (MGEX) hosted North Central NAMA at a February 22 luncheon meeting at their landmark downtown site.

More than thirty agri-marketing professionals and student members in attendance watched a video explaining the history and current activities of Minnesota’s only remaining commodity exchange. Following that introduction, the group made their way to the balcony overlooking the trading floor to observe the frenzied “open outcry” action as the day’s closing bell neared.

After the day’s close, the group toured the museum area for a close-up look at memorabilia and photos from the Exchange’s early days when actual grain samples were brought onto the trading floor for inspection.

A non-profit membership organization, the MGEX celebrated its 125^th anniversary in 2006. Since that event last fall, the ethanol phenomenon has brought investment funds into the commodities markets and created renewed interest in trading and the exchange, resulting in member seats on the MGEX trading at new record price levels almost daily. In fact, it was announced that another exchange seat had been sold for a six-figure sum during the time the NAMA members were lunching that very day!

Special thanks to Nancy Krull, MGEX marketing manager, for making tour arrangements with the programs committee.