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Japanese Non-GMO Soybean Futures

(12 July - Cropchoice News) -- They popped onto the radar scope this spring and have been quietly evolving ever since. While you might not find them (yet?) on the Chicago Board of Trade, non-GMO soybean futures, which kicked off on the Tokyo Grain Exchange (TGE) in May, have developed into a steady market in Japan.

Demand is not small. Almost three times as many 10,000 kilo (24,000 lbs.) non-GMO contracts are being traded as standard (GMO) ones. The conventional lot size is 30,000 kilos (72,000 lbs.), so roughly the same number of both types of beans are being exchanged. Identity preserved yellow soybeans produced in Indiana, Iowa, Illinois, Ohio, Michigan, and Wisconsin are traded. Prices for the 10,000 kilo non-GMO lots are currently running at a 9% -10% premium over conventional beans.

The Tokyo Grain Exchange (TGE) features a number of web pages - in English - where the the market can be tracked. The TGE's home page is at www.tge.or.jp. Jump straight to a daily price report at http://www.tge.or.jp/english/marketprices.html.

Source: TGE