CFTC Annual Report 1997

	Average Monthend Open Interest (Contracts)						Volume of Trading (Contracts)
	1995-1996			1996-1997			1995-1996			1996-1997
Exchange/ Commodity	Calls	Puts	Totals	Calls	Puts	Totals	Calls	Puts	Totals	Calls	Puts	Totals

Chicago Board of Trade (CBT)
WHEAT	65,337	43,828	109,165	65,981	43,408	109,389	1,161,506	718,740	1,880,246	939,762	750,519	1,690,281
CORN	210,668	197,854	408,522	207,532	149,877	357,409	3,681,652	2,838,417	6,520,069	2,864,373	2,198,253	5,062,626
OATS	3,226	2,249	5,475	1,840	734	2,574	33,306	22,298	55,604	18,975	5,960	24,935
ROUGH RICE	1,246	677	1,923	1,511	1,897	3,408	9,296	5,820	15,116	14,131	16,460	30,591
SOYBEANS	133,395	87,859	221,254	137,892	91,253	229,145	3,030,032	1,877,939	4,907,971	3,230,240	2,106,806	5,337,046
SOYBEAN OIL	16,625	12,925	29,550	17,389	9,557	26,946	167,436	117,108	284,544	154,525	114,055	268,580
SOYBEAN MEAL	22,424	15,313	37,737	22,850	16,619	39,469	331,844	221,730	553,574	361,875	262,370	624,245
US CORN YIELD INSURANCE	6	1	7	6	2	8	6	1	7	0	4	4
IOWA CORN YIELD INSURANCE	147	314	461	24	126	150	374	813	1,187	36	87	123
ILLINOIS CORN YIELD INSURANCE	0	12	12	0	0	0	0	15	15	0	0	0
OHIO CORN YIELD INSURANCE	0	22	22	0	12	12	0	114	114	0	21	21
DIAMMONIUM PHOSPHATE	15	0	15	10	0	10	30	0	30	20	0	20
US TREASURY BONDS	364,080	275,156	639,236	392,284	289,988	682,272	13,328,338	12,118,576	25,446,914	15,481,203	13,443,195	28,924,398
2-YEAR US TREASURY NOTES	177	175	352	98	232	330	1,643	1,986	3,629	1,581	2,084	3,665
10-YEAR US TREASURY NOTES	214,334	175,821	390,155	158,215	126,414	284,629	4,401,938	3,730,866	8,132,804	3,166,093	2,777,717	5,943,810
5-YEAR US TREASURY NOTES	65,346	62,910	128,256	44,518	40,278	84,796	1,397,387	1,522,694	2,920,081	996,848	1,110,597	2,107,445
MUNICIPAL BOND INDEX	563	1,565	2,128	8,388	16,308	24,696	4,899	16,333	21,232	73,714	137,033	210,747
CANADIAN BONDS	0	0	0	0	0	0	0	0	0	0	0	0
MEXICO BRADY BOND INDEX	210	20	230	0	0	0	420	20	440	0	0	0
YIELD CURVE 10-2	0	0	0	87	114	201	0	0	0	256	226	482
YIELD CURVE 10-5	0	0	0	21	2	23	0	0	0	37	12	49
YIELD CURVE 30-10	0	0	0	172	163	335	0	0	0	640	588	1,228
YIELD CURVE 30-2	0	0	0	158	138	296	0	0	0	658	455	1,113
YIELD CURVE 30-5	0	0	0	59	4	63	0	0	0	166	111	277
YIELD CURVE 5-2	0	0	0	10	0	10	0	0	0	285	210	495
NAT’L CATASTROPHE INS QI	0	0	0	0	0	0	0	0	0	0	0	0
NAT’L CATASTROPHE INS SC A	0	0	0	1,096	0	1,096	0	0	0	1,822	0	1,822
NAT’L CATASTROPHE INS SC Q	34	0	34	791	200	991	40	0	40	1,905	274	2,179
NAT’L CATASTROPHE INS LC Q	324	0	324	4	0	4	2,600	0	2,600	0	0	0
EASTERN CATASTROPHE INS QI	2,193	63	2,256	0	0	0	116	0	116	0	0	0
EASTERN CATASTROPHE INS SC Q	1,427	0	1,427	4,200	0	4,200	5,618	0	5,618	2,802	0	2,802
EASTERN CATASTROPHE INS LC Q	20	0	20	10	0	10	50	0	50	0	0	0
MIDWEST CATASTROPHE INS QI	30	0	30	0	0	0	0	0	0	0	0	0
MIDWEST CATASTROPHE INS SC	82	0	82	1,750	2	1,752	196	0	196	2,450	2	2,452
WESTERN CATASTROPHE INS AI	4	0	4	0	0	0	0	0	0	0	0	0
WESTERN CATASTROPHE INS SC ANN	485	0	485	1,812	0	1,812	1,628	0	1,628	632	0	632
NORTHEASTERN CAT INS SC QTR	282	0	282	685	0	685	564	0	564	920	0	920
SOUTHEASTERN CAT INS SC QTR	76	0	76	742	3	745	166	0	166	1,988	3	1,991
SOUTHEASTERN CAT INS LC QTR	20	0	20	0	0	0	40	0	40	0	0	0
TEXAS CATASTROPHE INS SC QTR	274	0	274	363	0	363	530	0	530	110	0	110
TEXAS CATASTROPHE INS LC QTR	4	0	4	4	0	4	4	0	4	0	0	0
FLA. CATASTROPHE INS SC QTR	26	0	26	1,337	0	1,337	60	0	60	1,424	0	1,424
CAL. CATASTROPHE INS SC AI	4	0	4	216	0	216	4	0	4	1,408	0	1,408
1000 TROY OUNCE SILVER	124	12	136	48	1	49	545	47	592	59	2	61
Total CBT	1,103,208	876,776	1,979,984	1,072,103	787,332	1,859,435	27,562,268	23,193,517	50,755,785	27,320,938	22,927,044	50,247,982

Kansas City Board of Trade (KCBT)

WHEAT	4,585	4,059	8,644	5,670	4,458	10,128	40,005	30,988	70,993	52,724	43,804	96,528
STOCK INDEX FUTURE, MVL	70	50	120	42	33	75	843	898	1,741	987	613	1,600
NATURAL GAS	250	323	573	7	0	7	1,801	1,800	3,601	0	31	31
Total KCBT	4,905	4,432	9,337	5,719	4,491	10,210	42,649	33,686	76,335	53,711	44,448	98,159

Minneapolis Grain Exchange (MGE)

WHEAT	973	614	1,587	2,569	1,220	3,789	11,113	5,937	17,050	24,934	11,596	36,530
WHITE WHEAT	220	286	506	257	587	844	1,813	1,594	3,407	2,586	5,317	7,903
WHEAT-EUROPEAN	3	3	6	11	11	22	12	12	24	40	40	80
BARLEY	4	4	8	4	4	8	4	4	8	0	0	0
WHITE SHRIMP	8	4	12	13	17	30	25	15	40	113	66	179
BLACK TIGER SHRIMP	12	20	32	32	46	78	162	250	412	341	457	798
Total MGE	1,220	931	2,151	2,886	1,885	4,771	13,129	7,812	20,941	28,014	17,476	45,490

MidAmerica Commodity Exchange (MCE)

WHEAT	328	237	565	564	121	685	2,227	1,314	3,541	2,722	1,518	4,240
CORN	584	483	1,067	1,169	597	1,766	4,877	2,693	7,570	5,687	3,976	9,663
SOYBEANS	1,194	488	1,682	2,064	426	2,490	9,326	2,856	12,182	15,521	4,103	19,624
SOYBEAN OIL	1	0	1	2	1	3	0	0	0	2	1	3
US TREASURY BONDS	11	5	16	17	18	35	330	167	497	523	483	1,006
GOLD, NEW YORK DELIVERY	56	36	92	12	0	12	318	122	440	15	0	15
Total MCE	2,174	1,249	3,423	3,828	1,163	4,991	17,078	7,152	24,230	24,470	10,081	34,551

New York Mercantile Exchange (NYMEX) and Commodity Exchange, Inc. (COMEX)

NO. 2 HEATING OIL, NY HARBOR	37,514	20,471	57,985	66,755	31,717	98,472	632,039	308,240	940,279	825,495	433,716	1,259,211
NATURAL GAS	53,459	43,546	97,005	81,880	72,776	154,656	653,496	549,090	1,202,586	1,003,795	783,098	1,786,893
ALBERTA NATURAL GAS	0	0	0	0	5	5	0	0	0	10	5	15
ELECTRICITY (CA-OR BORDER)	299	620	919	447	1,057	1,504	2,289	2,725	5,014	3,266	4,825	8,091
ELECTRICITY (PALO VERDE)	250	334	584	663	900	1,563	921	1,104	2,025	4,058	7,110	11,168
CRUDE OIL, LIGHT “SWEET”	220,646	165,959	386,605	262,742	192,758	455,500	2,539,635	2,362,083	4,901,718	2,824,203	2,578,549	5,402,752
UNLEADED GAS, NY HARBOR	23,592	11,972	35,564	36,835	15,818	52,653	448,228	206,635	654,863	697,567	316,875	1,014,442
SPREADS, HEATING OIL TO CRUDE	3,935	1,522	5,457	1,735	595	2,330	38,025	14,000	52,025	16,640	10,325	26,965
SPREADS, UNLEADED GAS TO CRUDE	1,255	504	1,759	2,307	676	2,983	20,964	10,718	31,682	27,404	12,894	40,298
PLATINUM	2,584	807	3,391	2,353	897	3,250	31,876	6,425	38,301	22,361	10,500	32,861
SILVER	54,661	21,802	76,463	53,501	15,935	69,436	699,541	302,310	1,001,851	538,762	194,729	733,491
COPPER, GRADE #1	6,629	2,497	9,126	8,652	2,914	11,566	72,128	40,317	112,445	110,254	51,990	162,244
GOLD	226,936	77,575	304,511	262,818	97,487	360,305	1,749,462	466,905	2,216,367	1,247,718	581,574	1,829,292
Total NYMEX/COMEX	631,760	347,609	979,369	780,688	433,535	1,214,223	6,888,604	4,270,552	11,159,156	7,321,533	4,986,190	12,307,723

New York Cotton Exchange (NYCE) and New York Futures Exchange (NYFE)

COTTON NO. 2	47,941	42,812	90,753	37,248	31,445	68,693	483,700	413,091	896,791	350,618	281,501	632,119
RUSSET POTATOES	0	0	0	6	0	6	0	0	0	36	2	38
FROZEN CONCENTRATED ORANGE JUICE	19,433	17,070	36,503	33,571	12,493	46,064	166,865	125,180	292,045	271,557	109,852	381,409
U.S. DOLLAR/DMARK CROSS RATE	5	0	5	20	25	45	207	0	207	468	200	668
SFRANC/DMARK CROSS RATE	488	66	554	752	47	799	4,676	920	5,596	2,030	305	2,335
JYEN/DMARK CROSS RATE	332	0	332	77	45	122	531	1,319	1,850	385	233	618
FFRANC/DMARK CROSS RARE	130	84	214	132	50	182	1,226	367	1,593	218	50	268
ILIRA/DMARK CROSS RATE	13	17	30	95	36	131	203	44	247	529	189	718
BPOUND/US DOLLAR CROSS RATE	0	0	0	12	0	12	0	0	0	6	0	6
BPOUND/DMARK CROSS RATE	291	273	564	97	582	679	3,113	3,227	6,340	777	3,904	4,681
U.S. DOLLAR/JYEN CROSS RATE	300	200	500	211	100	311	600	200	800	459	775	1,234

New York Cotton Exchange (NYCE) and New York Futures Exchange (NYFE) -- continued

STOCK INDEX, NYSE CMP NEW	834	1,661	2,495	2,809	2,221	5,030	19,733	24,183	43,916	44,839	39,773	84,612
HIGH TECHNOLOGY INDEX	87	86	173	147	103	250	787	1,129	1,916	2,858	2,521	5,379
U.S. DOLLAR INDEX	1,512	1,609	3,121	973	1,327	2,300	25,085	21,023	46,108	16,272	14,310	30,582
CRB FUTURES PRICE INDEX	416	410	826	280	404	684	2,580	2,729	5,309	2,041	2,419	4,460
Total NYCE/NYFE	71,782	64,288	136,070	76,430	48,878	125,308	709,306	593,412 1,302,718	693,093	456,034	1,149,127

Coffee, Sugar & Cocoa Exchange (CSCE)

BUTTER	0	0	0	5	100	105	0	0	0	25	0	25
NONFAT DRY MILK	4	8	12	0	1	1	22	16	38	0	3	3
MILK	93	67	160	46	88	134	569	270	839	135	397	532
BFP MILK	0	0	0	221	192	413	0	0	0	607	610	1,217
CHEDDAR CHEESE	0	0	0	1	0	1	1	0	1	4	0	4
COCOA	19,529	10,527	30,056	25,125	12,697	37,822	217,904	114,462	332,366	245,410	119,656	365,066
SUGAR NO. 11	58,449	39,066	97,515	78,598	50,807	129,405	624,619	447,845	1,072,464	749,301	478,386	1,227,687
COFFEE C	30,530	16,426	46,956	28,977	30,853	59,830	526,298	322,756	849,054	661,723	564,683	1,226,406
Total CSCE	108,605	66,094	174,699	132,973	94,738	227,711	1,369,413	885,349	2,254,762	1,657,205	1,163,735	2,820,940

Chicago Mercantile Exchange (CME)/International Monetary Market (IMM)

BONELESS BEEF TRIMMINGS (50%)	0	0	0	141	156	297	0	0	0	257	323	580
BONELESS BEEF (90%)	0	0	0	16	12	28	0	0	0	61	33	94
LIVE HOGS	7,872	11,950	19,822	4,311	6,848	11,159	83,142	97,210	180,352	13,251	9,107	22,358
LEAN HOGS	412	964	1,376	6,834	10,525	17,359	2,669	4,004	6,673	84,270	103,674	187,944
FROZEN PORK BELLIES	1,601	2,945	4,546	1,333	1,518	2,851	21,109	29,402	50,511	19,580	12,600	32,180
LIVE CATTLE	18,579	23,833	42,412	25,989	26,950	52,939	230,484	261,066	491,550	288,410	271,881	560,291
FEEDER CATTLE	7,336	6,782	14,118	4,540	9,633	14,173	88,681	78,348	167,029	66,308	90,639	156,947
BUTTER	3	12	15	48	15	63	5	14	19	297	119	416
MILK	25	31	56	86	69	155	130	117	247	635	623	1,258
CANADIAN DOLLAR	10,034	7,113	17,147	16,191	7,270	23,461	123,748	95,502	219,250	162,781	96,461	259,242
FRENCH FRANC	153	313	466	329	264	593	1,506	3,073	4,579	1,275	1,215	2,490
SWISS FRANC	23,237	22,235	45,472	28,348	24,337	52,685	342,494	321,226	663,720	344,091	373,181	717,272
DEUTSCHE MARK	59,344	60,071	119,415	55,721	55,857	111,578	869,337	944,799	1,814,136	737,101	851,002	1,588,103
MEXICAN PESO	360	373	733	7,496	5,368	12,864	1,586	1,742	3,328	87,353	51,923	139,276
BRITISH POUND STERLING	73,364	78,078	151,442	40,760	38,115	78,875	1,523,100	1,753,505	3,276,605	568,906	534,800	1,103,706
JAPANESE YEN	57,989	49,510	107,499	55,879	51,664	107,543	936,716	784,380	1,721,096	803,300	733,934	1,537,234
BRAZILIAN REAL	238	17,766	18,004	104	18,924	19,028	255	67,488	67,743	104	77,688	77,792
NEW ZEALAND DOLLAR	0	0	0	12	1	13	0	0	0	23	1	24
AUSTRALIAN DOLLAR	222	413	635	364	1,628	1,992	2,505	2,828	533	4,807	19,737	24,544
AMEX MAJOR MARKET INDEX	20	116	136	0	40	40	240	478	718	7	20	27
E-MINI S&P 500 STOCK INDEX	0	0	0	499	369	868	0	0	0	1,119	877	1,996
S&P 500 BARRA GROWTH INDEX	304	487	791	59	132	191	850	2,080	2,930	210	660	870
S&P 500 BARRA VALUE INDEX	638	328	966	247	351	598	1,950	2,170	4,120	241	1,110	1,351
S&P 500 STOCK INDEX	99,332	177,723	277,055	77,651	147,744	225,395	1,970,865	2,856,511	4,827,376	2,057,987	2,471,331	4,529,318
S&P 400 MIDCAP STOCK INDEX	92	148	240	38	242	280	1,392	771	2,163	1,251	2,316	3,567
NASDAQ 100 STOCK INDEX	763	2,368	3,131	602	12,099	12,701	3,873	13,600	17,473	12,660	73,521	86,181
RUSSELL 2000 STOCK INDEX FUTURE	21	42	63	81	160	241	443	804	1,247	1,960	2,042	4,002
NIKKEI STOCK AVERAGE	722	107	829	360	176	536	6,272	1,856	8,128	3,251	2,672	5,923
DOW JONES TAIWAN STOCK INDEX	0	0	0	53	30	83	0	0	0	106	30	136
BMV INDEX OF PRICES & QUOTES	50	25	75	0	0	0	50	25	75	0	0	0
13-WEEK U.S. TREASURY BILLS	88	43	131	0	0	0	57	114	171	0	0	0
1-MONTH LIBOR RATE	1,030	966	1,996	609	1,136	1,745	12,992	9,578	22,570	8,533	19,809	28,342
3-MONTH EURODOLLARS	978,624	1,076,686	2,055,310