Argentina-China Commodities Exchanges Sign Agreement

Argentina’s Rosario Futures Exchange and China’s Dalian Commodity Exchange have signed a memorandum of understanding (MoU) to develop new commodity derivatives products, in particular in the area of soybean trading. China imports more than 50% of its soybean from the US, Brazil and Argentina. The agreement is part of ongoing negotiations between the two markets which are also seeking to establish an international soy market to include Brazil that will act as a parallel market to the Chicago Board of Trade, which currently sets the world price for the commodity.