Soybeans are one of the most popular and actively traded commodities of them all. Soybean oil is used to in a huge variety of products whereas the meal is mainly used in animal feed. As they are so widely used there is a lot of interest in this product across the globe. The largest producer of soybeans is the US and they are most commonly grown in the Midwest of America.
This product is more volatile in the summer months and there are several reports released affecting the price of the soybean. The weather has a large part to play in the pricing of this futures product as well as monthly crop reports and the usual supply and demand factors.