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CBOT Chairman Charles P. Carey said, “Working closely with South American soybean market participants, the Exchange developed the contract to provide a reliable, transparent and efficient price risk management tool. The CBOT has traded Soybean futures for nearly 70 years, and we are proud to continue serving the domestic and international agricultural community by providing even greater trading opportunities for market participants.”
CBOT President and CEO Bernard W. Dan said, “The CBOT is dedicated to driving product innovation within the global derivatives markets. Launching South American Soybean futures is one of many efforts designed to address the changing trends within worldwide consumption and production of agricultural products. Further, the new contract will join the Exchange’s highly liquid Soybean complex, the global benchmark for pricing and price risk management.”
The CBOT’s new contract was created to attract the interest of South American soybean producers and consumers worldwide. Brazil and Argentina supply more than 50 percent of the world’s soybeans, and the product is imported by European and Asian countries, as well as other countries around the world.
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.
For more information on CBOT South American Soybean futures, visit the Exchange’s Website at www.cbot.com/ag.
