Soybean

Soybean is the single largest oilseed produced in the world.

About 82-85% of the global soybean production is crushed for oil and meal, while the rest is consumed either in the form of bean itself or for value-added soybean snack foods. 

USA, Brazil, Argentina, China and European Union countries constitute for the bulk of the world's annual soybean consumption. Mexico, Japan, India and Taiwan are among the other major consumers.

Factors Affecting Soybean:

• Prices are affected by the fluctuations in demand and supply throughout the year.
• Transportation costs are a major factor when it comes to the determination of soybean prices.
• Soybean price movement:

Soybean Price movements:

Contract Specification: 

• Soybean
  * Symbol: SYBEANIDR
  * Tick Size: Rs.100 per contract)
  * Contract Size: 10 MT
  * Last Trading Day: 20th day of every month
  * Trading Hours: 10:00a.m. - 5:00p.m. (Mon-Fri) (Sat 10:00a.m. - 2:00p.m.)
  * Exchange: NCDEX

Conclusion

So at the end of this module, we have completed our journey to understand the overall commodity market. As we have tried to explain the basic concept of the commodity market in India, we hope you are ready to take your first step in commodity trading. There are other modules on different topics of financial markets that we have designed on ELM School so that you can attain financial literacy.