The Chicago Board of Trade (CBOT) plans to launch Brazilian soybean and soymeal contracts in May. According to The Brock Report, the move is being made primarily in response to demands from European soy buyers who want a better hedge for their purchases of South American soybeans. The contracts should also appeal to South American farmers and Asian soy buyers.

The contracts will allow delivery at Paranagua' and Santos ports, which would be the first time in its 150-year history that the CBOT has nominated delivery points outside the U.S.