21.
08.20
16:15

CME launches new soybean contract

CME Group announced on August 20 that it would launch South American Soybean (Platts) futures on September 21, pending all relevant regulatory review periods. This contract offers market participants a new instrument for direct control of their exposure to the Brazilian soybean market.
"As Brazil has become a leading producer and exporter of soybeans, regional pricing alternatives are becoming increasingly important for risk management," said Tim Andriesen, CME Group's managing director for agricultural products. “Customers have been using our benchmark grain and oilseed products to secure their global soybean positions for over 80 years. These new contracts will expand these products with contracts that reflect Brazilian export prices. "
The new South American soybean futures (Platts) were jointly developed with B3, one of the world's largest financial market infrastructure companies.The futures on Brazilian soybeans (Platts) are financially settled on the basis of the SOYBEX price valuation published daily by S&P Global Platts since July 2018, which reflects the FOB value of soybeans from the Brazilian port of Santos. The contract will simultaneously track the export price and basis for US soybeans, and allow market participants to trade the spread between these key commodity regions.
"For B3, the start of this contract is a collective success and another important step in our strategic relationship with the CME Group," said Louis Gourbin, Head of Raw Materials at B3. "We are working on making the B3 contract available to the market as soon as possible."
Ian Dudden, Global Pricing Director, Metals & Agriculture at S&P Global Platts, said, “We are pleased that CME Group and its customers are recognizing the important role our independent Brazilian FOB Santos Soybean Price Assessment plays in creating price transparency in turn offers opportunities for the provision of risk management tools that make global agricultural markets more efficient."
South American soybean futures are quoted in US dollars and cents per ton and have a contract size of 136 tons. The minimum price fluctuation is 20 cents per ton, with the final settlement price being rounded to the nearest cent.
The new futures contract will be available for trading on CME Globex or via block trades via CME ClearPort and will be listed and subject to CBOT.

Source
Hansa Terminhandel GmbH
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