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Soybeans are traded in the futures markets. Most of the world’s soybean trade is through the Chicago Board of Trade Soybeans Futures in the United States (CBOT). Futures contracts for both soybean oil and meal are also traded through the CBOT.
What are the global price indicators for soybeans?
Another important global price indicator for soybeans is the Dalian Exchange Contract from China, as the country is the world’s largest soybean consumer and importer, with around 60% of the worldwide market share (Orient Futures Singapore, 2022). Price fluctuations in the last decade have afected the soybean market.
Which countries produce the most soybeans in the world?
Since the 1950s, soy production has increased 15-fold and shifted from Asia to the United States, Brazil, and Argentina, which now account for 80% of global soybean production (Ritchie, 2021).
Why is global demand for VSS-compliant soybeans important?
Increasing global demand for VSS-compliant soybeans is key. When demand for sustainable soy is low, and the premiums paid for VSS-compliant soy are insuficient to cover production costs, farmers have little motivation to grow sustainable soybeans.