Soybean Futures Reach Open Interest Record of 1 Million Contracts

Rhea-AI Summary

CME Group announced a record open interest of 1,005,393 contracts in Soybean Futures on October 2, 2020, surpassing the previous record of 994,165 contracts. Open interest reflects active positions in the market, indicating heightened demand amid price risk considerations. Tim Andriesen, Managing Director at CME Group, highlighted the increasing access to liquidity and cost efficiencies for market participants through their agricultural products.

Positive

• Record open interest of 1,005,393 contracts in Soybean Futures represents significant market activity.
• Demand for CME's agricultural products points to increased market engagement during uncertain economic conditions.
• CME Group's extensive range of benchmark products provides vital tools for risk management.

Negative

• None.

CHICAGO, Oct. 5, 2020 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that open interest in Soybean Futures reached a record of 1,005,393 contracts on October 2, 2020, up from the previous open interest record of 994,165 set on September 30, 2020.

Open interest (OI) represents the number of active positions that market participants are holding open without taking delivery or offsetting, a measure that typically increases during times of market uncertainty. 

"The new open interest record indicates the value of our soybean contract among a wide spectrum of market participants facing price risk," said Tim Andriesen, Managing Director, Agricultural and Alternative Investment Products at CME Group. "Customers are increasingly accessing the deep liquidity, as well as capital and cost efficiencies, offered by our suite of global agricultural products to manage their exposure in these markets."

CME Group offers the widest range of global benchmark products across all major asset classes, helping businesses everywhere mitigate the complex risks they face in today's uncertain global economy. CME Group corn futures currently have open interest of 1.5 million contracts and corn options have open interest of 1.2 million contracts. 

For more information about CME Group's Agricultural products, please visit here.

As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.  With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively.  Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc.  All other trademarks are the property of their respective owners. 

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SOURCE CME Group

FAQ

What is the record open interest for CME Soybean Futures as of October 2020?

As of October 2, 2020, the record open interest for CME Soybean Futures reached 1,005,393 contracts.

What was the previous open interest record for CME Soybean Futures?

The previous open interest record for CME Soybean Futures was 994,165 contracts set on September 30, 2020.

Why is open interest in Soybean Futures important?

Open interest indicates the number of active positions in the market, reflecting market sentiment and liquidity.

What does increased open interest in Soybean Futures suggest?

Increased open interest suggests growing demand and engagement from market participants, often during times of price risk.

What is CME Group known for in the derivatives marketplace?

CME Group is known for being the world's leading derivatives marketplace, offering a diverse range of products across major asset classes.