CBOT Chairman Charles P. Carey said, “The Exchange is pleased with the launch of its new futures contract, a reliable, transparent and efficient instrument for managing price risk in the South American Soybean market. Developed through extensive collaboration with participants in the South American soybean industry, the contract is expected to provide increased trading opportunities for market participants around the world. The CBOT is proud to continue its dedicated service to the global agricultural community with this new contract, a strong addition to the Exchange’s highly liquid Soybean complex, the benchmark for soybean pricing worldwide.”
The new contract was developed to address the needs of producers and consumers of South American soybeans. Brazil and Argentina supply more than 50 percent of the world’s soybeans. In addition, countries around the world, especially in Europe and Asia, are active importers of soybeans from South America.
Regular trading hours for CBOT South American Soybean futures in the open auction market are from 9:30 a.m. to 1:15 p.m. Central Time, Monday through Friday. On the CBOT’s premier electronic platform, trading hours are from 7:31 p.m. to 6:00 a.m. Central Time, Sunday through Thursday. The CBOT South American Soybean futures contract will be physically settled, with delivery points located in the ports of Paranagua and Santos, Brazil.
