Benefits and Impact of the project
Small and medium size soybean futures contracts buying and trading organizations:
– Soy processors
– Soy retailers/Wholesalers
– Traders & Investors
For the Users
So far, access of short- and medium-range soybean traders and trading organizations to services for acquiring soybean futures contacts price forecasts has been prohibitive either because of the high cost of such services, or because they require special financial knowledge or in-house analytic skills and infrastructures. The SPATIAL project now offers a tool that, with the help of innovative machine learning mechanisms, allows individuals and investors to automatically receive low-cost futures contract price forecasts to optimally strengthen their trading strategies, augment financial risk management and grow their profits from trading of soybean futures contracts.
For the society
Digital financial transaction assistance solutions such as the SPATIAL system democratize access to investment by now allowing the middle class and small businesses in need of accurate futures price forecasting to receive this information at low fees and with minimum capital requirements. With services like those of the SPATIAL system, in the years to come, a much larger population (currently excluded from such services) could benefit. As such, offering access to soybean futures contracts price forecasts to more people could be an additional tool to reduce the inequality gap of access to such services that is observed worldwide and benefit the small and medium businesses that are currently underserved.
The project contributes to the promotion and expansion of an existing research field, beyond the current technological landscape. SPATIAL serves as a proof-of-concept prototype system, that combines financial & macroeconomic and Earth Observation data, using AI models to gain accurate insights on soybean futures contract movement. This prototype system contributes in ensuring scientific excellence in this field.