Brazil has become the world's largest soybean producer and exporter through the use of productive land and the development of infrastructure. The correlation between Brazilian and American soybean prices has always been close, but in recent times they became quite apart and this has made life very difficult for agents trading in this market. 

Listing of the Soybean FOB Santos Futures Contract offers arbitrage opportunities for Brazilian market participants, thus increasing their capacity to generate liquidity and improve the price discovery process. With the contract, participants can now hedge their positions at B3 without the need to trade on an exchange abroad. 

Therefore, the Soybean FOB Santos Futures Contract meets the risk management needs of Brazilian agribusiness and enables to monitor the spread between soybean contracts in the United States and Brazil.  

• Underlying asset: FOB Santos soybean price (SOYBEX FOB Santos) published by S&P Global Platts. 
• Size: 34 metric tons. 
• Quotation: In U.S. Dollars per metric ton to two decimal places, and tick size of US$0.20 per ton (US$6.80/contract) for futures contract and US$1.00 for options contracts. 
• Settlement: Cash based on the SOYBEX FOB Santos average assessments issued by S&P Global Platts. 
• Maturity: During the 12 months of the year. 
• Expiration date: 16th day of the month prior to the reference month. If there is no trading session, the expiration date will be the next trading session. 
• Last trading day: The business day prior to expiration. 
• Average and settlement price formation: Average of all SOYBEX FOB Santos (S&P Global Platts) assessments issued during the average settlement formation period. 
• Average settlement formation period: Starts on the 16th day of the second month prior to the reference month and goes until the 15th day of the month prior to the reference month.  

Companies trading in the soybean market (cooperatives, resellers, grain traders, trading companies and industries), brokerage houses, banks, funds and asset managers.  

• To take a stand on Brazilian soybean price evolutions 
• To hedge your soybean production or consumption 
• To perform arbitrage in soy parities from other geographies  

CME Group is the parent company of the Chicago Stock Exchange, New York Mercantile Exchange (NYMEX), Chicago Board of Trade (CBOT) and Commodities Exchange (COMEX).  

S&P Global Platts is the leading independent provider of information, benchmark prices and analyses for the commodities and energy markets. The company publishes the Soybex, a series of soybean price assessments to guide the market on a daily basis.  

*The marks “S&P Global Platts” “Platts®” and “SOYBEX®” are registered trademarks of S&P Global Inc. and have been licensed for use by B3 S.A - BRASIL, BOLSA, BALCÃO. S&P Global Platts, a division of S&P Global Inc., also grants B3 SA - BRASIL, BOLSA, BALCAO a license to use the Platts SOYBEX FOB SANTOS$/mt assessment and the data included in such assessment(s) ("Platts Assessment") with respect to the listing, trading, clearing and settlement of the Soybean Brazil FOB Santos (Platts) contract based on the Platts Assessment ("Contract"). The Contract is not sponsored, endorsed, sold or promoted by S&P Global Platts or its affiliates or licensors. S&P Global Platts, its affiliates and licensors make no representations or warranties, express or implied, either with respect to the Contract or the opportunity to invest in securities or commodities in general or the Platts Assessment's ability to track overall market performance or commodity price movements. S&P Global Platts, its affiliates and licensors disclaim any and all warranties, express or implied, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use of the Platts Assessment, or the results obtained from its use, or conduct in using such assessment. The Platts Assessment and all its components thereof are provided "as is" and the use of such Platts Assessment is at the user's own risk and expense. S&P Global Platts, its affiliates and licensors do not guarantee the adequacy, accuracy, timeliness, availability or completeness of the Platts Assessment or any component thereof or any communications (whether written or oral communications, electronically or otherwise), and shall not be liable, including, but not limited to, any indirect, specific, incidental, punitive or consequential damages, or any loss of profits, trading losses, loss of credibility, or shall in no way be liable for indemnifying any person for any loss or impairment arising out of or relating to the Platts Assessment.