O Uso de Derivativos no Mercado Mundial de Soja: Riscos e vantagens

Ana Paula de Freitas Alves (), Antonio Marcos de Queiroz (), Edson Roberto Vieira () and Flávia Rezende Campos ()
Additional contact information
Ana Paula de Freitas Alves: FACE/UFG
Antonio Marcos de Queiroz: FACE/UFG
Edson Roberto Vieira: FACE/UFG
Flávia Rezende Campos: FACE/UFG

No 102, Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE

Abstract: The use of derivatives in the soybean agribusiness market has advantages, in addition to being an effective mechanism for risk mitigation and management. Despite this, there are producers who choose not to use this type of contract. In view of this, this study aims to analyze the derivatives market when considering the existence of probable risks and, at the same time, in which it also presents advantages for soybean producers. In the methodology, a quantitative analysis was used with a database provided by a company in the financial services segment and information available by the CME Group. The results obtained suggest that the financial derivatives market is relatively larger and more leveraged than the physical market, which translates into a risk for those who do not have exposure to changes in physical soybean prices. On the other hand, for producers who are exposed to commodity price volatility, the derivatives market becomes an important tool in business risk management, as it will directly influence expected revenue/cost. It is concluded that although there is a difference between the volumes traded in the derivatives market and the volume produced of physical soybeans, analyzing the 20/21 harvest we did not obtain any evidence that this differentiation has a causal relationship in the increase of risk for the agents.

Keywords: Derivatives; Soy market; Agribusiness, Risks. (search for similar items in EconPapers)
Pages: 25 pages
Date: 2024-08
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