Recent geopolitical events combined with tight grain and oilseed supply have created unprecedented uncertainty in global agricultural markets. This has driven growth in both emerging and benchmark Agricultural futures and option products:
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Source: USDA Oil Crops Yearbook
Agricultural options posted a record Q1 ADV of 325K contracts, primarily driven by SRW Wheat (+75% YoY), KC Wheat (+87% YoY), and Lean Hogs (+41% YoY).
Short-Dated New Crop options (SDNC) saw high volume as clients turned to SDNC for lower premiums.
Domestic and export demand for pork remained strong with some of the highest weekly hog prices since 2014.
March 2022 ranks as one of the largest volume months on record.