Ceresco representatives are either agronomists or trained technicians of the company’s Agronomy Department. Besides their past education and experience, each Ceresco representative undergoes extensive training by the company’s more senior agronomists prior to getting their own territory. These specialists meet producers to negotiate production contracts for Ceresco’s Non-GMO, Identity Preserved or conventional soy varieties that are intended for human consumption. In addition, they can negotiate purchase agreements with producers to produce other varieties required by some of Ceresco’s clients.
The price of soybean is determined based on the type of variety, crop quantity, storage, delivery location and shipping timelines. The price varies based on offer and demand and is comprised of four integral elements: the CBOT (Chicago Board of Trade) Term Contract, the Base price, the variety premium and sometimes a storage premium.
Soybean is traded on the Chicago Stock Exchange. The CBOT is the reference world market. Soybean price is based on fundamental factors and international conditions.
The base price reflects the difference in exchange rate between the US and Canadian dollar values. The local offer and demand also influences the base price.
The variety premium refers to the premium paid for producing a specific type of soybean. Generally speaking, the premium is adjusted based on the specific care required and yield potential of a variety. For instance, the more care involved in growing a particular variety and/or the lower its yield potential, the higher the premium.
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