The soybean originates from East Asia and has been cultivated in China for almost 5,000 years. In the United States, now the world’s largest producer of soybeans, the crop is grown as a field crop, sown in May or June and harvested with a combine in the fall. Since the pods ripen at the same time, they can be harvested at once. Production in the United States is primarily in the Midwest and lower Mississippi Valley; more than 30% of the crop is exported. 20% of world production is produced by Brazil, 10% in China, and only smaller quantities come from Argentina, Taiwan, Canada and India. China is by far the largest consumer and importer.
Trade data on Soybeans
Product symbol: S
Trade: CME GROUP (CME Globex, Open Outcry / Chicago)
Contract size: 5000 bushels
Trade price: Cents per bushel
Minimum trade movement: ¼ Cent per bushel
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