Soybean
a.k.a. Soybeans, Soy
A major farm commodity used for animal feed and cooking oil, heavily traded between the Americas and China.
In plain English
A major farm commodity used for animal feed and cooking oil, heavily traded between the Americas and China.
Soybeans are one of the world's most important crops, crushed into soymeal for animal feed and soybean oil for cooking and biofuel. The US and Brazil are the giant exporters; China is by far the biggest buyer.
That makes soybeans a political crop. During the US–China trade war, China's tariffs on American soybeans hit US farmers hard. For forex, soy prices matter to currencies like the Brazilian real and the Argentine peso.
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