Legume it may concern…
Special report: BRIC breaking: Brazil’s China syndrome
What accounts for their vastly different fortunes? China. Its demand for commodities like soy is nearly insatiable. In recent years, China has steadily ramped up its imports of the grain.
Not a question, a correction. I think you’ll find that soy is not a grain, but a legume.
Soybeans are a legume, not a grain.
However, in common understanding and usage in economics, soybeans are generically understood and accepted as a basic commodity of world grain trade. CBOT, the world’s largest grain exchange, has listed a soybean contract for 100 years.
In future, the proper term to use as a reference would be “oilseed.” GBU Editor
Soybeans are displayed by a worker at a deposit in Montevideo city July 28, 2010. REUTERS/Andres Stapff