SCB Group, the world-leading, low carbon commodity brokerage, is pleased to announce that the CME Group will be launching South American Soybean (Platts) Futures on September 21st, 2020.

Over the last few years, Brazil has become one of the world’s largest soybean exporters surpassing the United States of America. Regional pricing alternatives are becoming extremely important. Jointly created with B3 and CME Group, the new South American Soybean (Platts) Futures Contract will provide market participants with a new tool to manage price exposure more easily in the Brazilian soybean market.

According to the CME Group, South American Soybean futures will be quoted in U.S. dollars and cents per metric ton and have a contract size of 136 metric tons with the final settlement price based on S&P Global Platts FOB Santos Soybean index. The new futures contract will be available for trading on CME Globex or through block trades via CME ClearPort and will be listed by and subject to the rules and regulations of CBOT.

SCB was the first to broker OTC Swap deals on FOB Santos soybean based on S&P Global Platts price in June 2019, and after nearly 2 years of Brokering SCB has developed a large pool of various counterparties interested to build the liquidity on the CME Block Futures contract.

“We are extremely pleased to see this announcement; the whole soybean industry will benefit from this new hedging tool; from Brazilian farmers, global trade houses, Chinese importers to financial institutions. ” – says Arnaud Saulais, Senior Agricultural Derivatives Broker at SCB.

For more information about this new contract, click on this link.

For further information, please contact:

  • Pauline Tainton, Marketing Officer at SCB