Soybeans (Expiring Future)

Soybeans are edible legumes and a member of the pea family. Soybeans are a cheaply sourced form of protein that is consumed on a global scale. Its seeds contain 63% meal, half of which is protein. Soybeans are commonly planted in the warmer months to be harvested in the fall. The soybeans are cleaned, dried, cracked and then dehulled before being heated and rolled into flakes, ready to be reprocessed into various goods and products. Soybeans are a food source that has been used for thousands of years, originally domesticated in central China in 7000 BC. Soybeans and their by-product is used in a number of edible food and drinks, such as soy milk, tofu, flour, grits, and vegetarian meat alternatives. Soybean oil is used as cooking oil and can be found in margarine, sauces, salad dressings, and mayonnaise. Soy meal is often used in animal feed and is a high-demand food source for the livestock and poultry industry. Several factors influence the price of the soybeans, such as currency inflation rates, demand in individual countries, demand for protein sources, climate changes, tariffs imposed on the legume, and the price rates of other crops. Soybeans are in competition with crops like corn in many areas, and their price movements are often correlated as a result. The asset is tracked as an expiry future traded on the CME exchange. Add Soybeans to your eToro watchlist to keep track of its price movements.