Soybeans and soybean by-products are the most-traded agricultural commodities, comprising more than 10% of the total value of the global agriculture trade. At every stage of the production chain, the Soybean market participants, face potential financial losses due to the Soybean Futures Contracts Volatility. Predictability of soybeans futures contract price movement is very important to agricultural organizations, food companies and traders.
SPATIAL performs the forecasting soybean futures contracts price moves using Artificial Intelligence models based on financial & macroeconomic features and Earth Observation products. SPATIAL is realizing two distinct Machine Learning (ML) models, one for soybean crop yield forecasting and one for prediction of soybeans futures contracts price moves, to demonstrate the feasibility of the method, the benefits of integrating Copernicus EO products and to showcase the potential of such approach.