GRAINS OVERVIEW

Corn | Soy Bean | Wheat | Oats

SOYBEAN Contracts | Quote Board

Soybean Futures are traded on the Chicago Board of Trade. Soybeans are grown primarily for beans, which are harvested into oil and meal. Soybeans are primarily grown in the Corn-Belt states and the lower Mississippi Valley. The three top producing states on average are Iowa, Illinois, and Minnesota.

Soybeans are processed, "crushed", into meal and oil. Soybean Meal is used primarily as an animal feed, while soybean oil is found in a plethora of foods we eat and also has a host of industrial uses, with the most common food uses being edible oils- margarine, salad dressing, etc. Typically, each bushel of Soybeans produces 11 pounds of Soybean Oil and 48 pounds of Soybean Meal.

Planted area to Soybeans has increased rapidly from the second world war until 1979, when a record 71.4 million acres were planted. Acreage declined in the 1980's, but has rebounded in the 1990's. The 1997 yield of 39 bushels per acre is the second highest yield on record, versus the highest yield of 41.4 bushel per acre, set in 1994.

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