Financially settled South American Soybean futures offer a more precise tool to manage exposure to the Brazilian soybean market. As the largest producer and exporter of soybeans, Brazil plays a key role in the global soybean market, driving the need for a regional benchmark for price discovery.
Settling in US dollars to the Platts index, the contract reflects Brazilian export prices at the port of Santos, offered for trade as an outright or spread against the US-based Soybean contract.
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Trade electronically on the CME Globex platform or execute block trades on CME ClearPort using relationship-based trading.
Explore contract basics like key uses – such as trading the basis between the South and North American Soybean contracts – and the changing global dynamics behind the contract’s creation.
|Contract unit||136 metric tons (MT)|
|Minimum price fluctuation||$0.20 per ton ($27.20 per contract)|
CME Globex: 8:30 a.m. – 1:20 p.m. CT Monday through Friday (settlement time remains 1:15 p.m. CT)
CME ClearPort: Sunday opens 5:00 p.m.
|Product code||CME Globex: SAS
CME ClearPort: SAS
|Listed contracts||January, February, March, May, July, August, September, and November with 11 contracts listed at any time.|
|Floating price||The arithmetic average of the “SOYBEX FOB Santos” price assessment published by Platts for each day that it is determined from and including the 16th calendar day in the 2nd month prior to the contract month to and including the 15th calendar day in the month prior to the contract month. The Floating Price shall be rounded to the nearest $0.01.|
|Settlement Procedures||South American Soybean Settlement Procedure|
|Termination of trading||Trading shall cease on the business day prior the 16th calendar day in the month prior to the contract month.|
|Exchange rulebook||CBOT 11F|
|Reporting Window||15 minutes|
|Block Minimum||5 contracts|
|Inter-commodity spread block minimum||20 contracts|
|Settlement method||Financially settled|
|FOB Santos Soybeans Financially Settled (Platts) Futures 9/20/20|
|Product Name||CME Globex||Bloomberg||Refinitiv Globex RIC Root||Refinitiv Composite RIC Root||TT||CQG||DTN||FIS Global||Fidessa||ION (Pats & FFastFill)||Itiviti (Orc & Tbricks)||Vela|
|FOB Santos Soybeans Financially Settled (Platts) Futures||SAS||SSLA Comdty||1SSZ||SSZ||SAS||SAB||@SAS||SAS||SAS||SAS||SAS||SAS|
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