The CBOT Soybeans Contract is the global benchmark for the pricing
of soybeans. Soybeans are one of the most active and popular commodities to trade. The size of the soybeans contract
translates into a relatively small underlying value per contract, making it attractive for hedgers and speculators alike,
providing easy market access for global participants small and large.
Soybeans
were first cultivated in China thousands of years ago. In 1879 a few farmers in North Carolina began to plant them as forage
for their livestock. By the turn of the century, the United States Department of Agriculture was conducting tests on soybeans
and encouraging farmers to cultivate them as animal feed.
In the 1940's
soybean farming really took off in the United States. After World War II destroyed the soybean fields in China, the United
States became the world’s largest producer and exporter.
A large set
of commercial market participants, including farmers, elevator operators, feed lots, exporters and a diverse set of institutional
participants underscores the importance of soybeans futures and options markets ensuring highly efficient pricing and
continuous liquidity.
