In commodity market terminology, Soybeans are an oilseed legume originally from East Asia that has been used for centuries as a protein source both for humans and animals. Soybeans are also used to make oil and meal.
Soybean futures trade on the Chicago Board of Trade with a contract size of 5,000 bushels or 136 metric tons, prices are quoted in U.S. Dollars and the minimum fluctuation is ¼ cent per bushel or $12.50 per contract. Soybeans are also trade on the South African Futures Exchange or SAFEX, the Dalian Commodity Exchange or DCE in China, as well as on the Kansai Commodities Exchange and the Tokyo Grain Exchange in Japan. The CBOT Soybean symbol is S.