Our Price Explained
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What are the Soybeans price assessments?
What are the Soybeans price assessments?
Platts began assessing Soybeans in 2018 and now publishes a range of assessments for specific export and import markets globally that are used by the industry to assess risk and bring transparency.
We continuously work with key industry stakeholders to ensure that our price assessments evolve in step with changing market conditions.
Brazil
The Brazil soybean coverage focuses on the key export market, with two price assessments that were launched in July 2018:
- SOYBEX FOB Santos (Brazil)
- SOYBEX FOB Paranagua (Brazil)
From mid-June to mid-April Platts also published new crop assessments reflecting loading over March-June:
- Soybeans FOB Paranagua New Crop March, April, May and June
- Soybeans FOB Santos New Crop March
On October 16, 2021 Platts began publishing daily Brazil soybeans crush margin that brings together Platts FOB Paranagua soybean, soybean oil, and meal assessments.
China
Platts China soybeans price assessment was also launched in July 2018 and reflects the key China import markets:
- SOYBEX CFR China
The daily CFR China soybeans crush margin was launched on November 2, 2020. This China calculation brings together Platts SOYBEX CFR China soybeans, and DCE soybean oil and meal prices on the domestic market.
USA
In the USA from September 2018 Platts publishes two soybeans price assessments to reflect the US Gulf Coast export market:
- SOYBEX FOB New Orleans (US)
- Soybeans CIF New Orleans (US)
The price assessments are accompanied by daily commentary and market "heards" or price indications. We also provide a full explanation of why we have assessed the price at that level with our "assessment rationale".
For full details of our assessment specification please refer to the Grains and Oilseeds methodology guide.
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How do we assess the Soybeans market?
How do we assess the Soybeans market?
Platts assessments are based on robust and transparent market data that includes, but is not limited to, firm bids and offers, expressions of interest to trade, and confirmed trades reported across the trading day.
Platts publishes the assessed soybean values as differentials to the CBOT soybeans futures settles, often referred to as the "basis". The corresponding futures contract month letter code appears next to the basis value.
Brazil
The Brazil soybean FOB Santos assessments reflect 60,000mt cargoes of Brazil ANEC soybean specification, but with a typical protein level of 34.5%. The FOB Paranagua assessment reflects a smaller parcel size of 5,000 mt. The assessments reflect cargoes loading one calendar month forward. These will roll to the next month on the first publication day after the 15th of the current month.
Platts also assesses a soybeans new crop FOB Paranagua cargo value. The location, quality, and quantity are the same as the SOYBEX/Soybeans Brazil FOB Paranaguá assessment. The FOB Paranagua new crop assessments reflect loading over the months of March, April, May, and June. The FOB Santos new crop assessments reflect loading over the month of March
Platts typically begins publishing new crop values on the first publication day after June 15. As the publication day gets closer to the new crop month, the assessments will transition to be assessed as the front-month SOYBEX/Soybeans Brazil FOB Paranagua or Santos assessment.
The Brazil crush margin price is based on Platts FOB Paranagua prices, with a 78% soybean meal yield and a 19.5% soybean oil yield line with industry association ABIOVE (Brazilian Association of Vegetable Oil Industries).
China
The CFR North China price assessments reflect Brazil quality soybean specification, as per ANEC 41 and 42 Brazilian soybeans quality clause, with a standard oil content of 18.5% and a standard protein level of 34.5%. The assessments reflect full month shipment, one- and two-months following the date of publication. Rolling the following calendar month on the first publication day after the 15th of each month.
The gross China soybean crush margin is published using a 79% soybean meal yield and a 19% soybean oil yield. The soybean crush calculation is: DCE Soybean Meal x 0.79 + DCE Soybean Oil x 0.19 minus the Handling cost at 50 CNY/mt and minus the cost of imported soybeans (CFR China SOYBEX M1), adding the 3% import tax and the 9% VAT.
USA
The CIF New Orleans soybean assessment reflects standard US Federal Grain Inspection Service grade No. 2 Yellow Soybeans, but with a maximum moisture content of 14%, typical protein level of 34.5% and typical oil content of 18.5%. The assessment reflects typical barge loadings in the current calendar month on the following key US inland waterways -- the Mississippi River, the Illinois River and the Ohio River – for delivery to New Orleans. The FOB cargo soybeans assessment reflects cargoes loading FOB New Orleans one month forward. This rolls to the following calendar month on the first publication day after the 15th of the month.
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Why are these prices important?
Why are these prices important?
Since 1909, S&P Global Commodity Insights has been evolving rigorous methodologies for data gathering, mathematical analysis, and specialist judgement to create price assessments that reflect a commodity’s true value. A robust and transparent physical price representing the specific dynamics of regional markets can lead to physical indexation and financially settled derivative instruments. It is a powerful tool that helps customers and other market participants:
- Manage and hedge price risks
- Leverage arbitrage opportunities
- Carry out negotiations more profitably and efficiently
- Make better-informed planning and trading decisions
Brazil is the top producer and exporter of soybeans, accounting for over a third of global prosecution. Brazil also has one of the world's largest soybean crushing capacity and is the second-largest exporter globally for both soybean meal and soybean oil. Brazil also has long-term growth expectations for domestic biodiesel demand.
China has the world's largest soybean crushing capacity with an average volume of over 90 million metric tons of soybeans crushed over the past five years, representing 30% of volume of soybeans crushed globally. China is also the world’s largest importer of soybeans – importing more than 60% of soybeans traded worldwide, on average over the past 5 years.
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Platts Asian Soybean Daily Commentary
What are the Soybeans price assessments?
Platts began assessing Soybeans in 2018 and now publishes a range of assessments for specific export and import markets globally that are used by the industry to assess risk and bring transparency.
We continuously work with key industry stakeholders to ensure that our price assessments evolve in step with changing market conditions.
Brazil
The Brazil soybean coverage focuses on the key export market, with two price assessments that were launched in July 2018:
- SOYBEX FOB Santos (Brazil)
- SOYBEX FOB Paranagua (Brazil)
From mid-June to mid-April Platts also published new crop assessments reflecting loading over March-June:
- Soybeans FOB Paranagua New Crop March, April, May and June
- Soybeans FOB Santos New Crop March
On October 16, 2021 Platts began publishing daily Brazil soybeans crush margin that brings together Platts FOB Paranagua soybean, soybean oil, and meal assessments.
China
Platts China soybeans price assessment was also launched in July 2018 and reflects the key China import markets:
- SOYBEX CFR China
The daily CFR China soybeans crush margin was launched on November 2, 2020. This China calculation brings together Platts SOYBEX CFR China soybeans, and DCE soybean oil and meal prices on the domestic market.
USA
In the USA from September 2018 Platts publishes two soybeans price assessments to reflect the US Gulf Coast export market:
- SOYBEX FOB New Orleans (US)
- Soybeans CIF New Orleans (US)
The price assessments are accompanied by daily commentary and market "heards" or price indications. We also provide a full explanation of why we have assessed the price at that level with our "assessment rationale".
For full details of our assessment specification please refer to the Grains and Oilseeds methodology guide.
Platts Asian Soybean Daily Commentary
Argentine beans heard traded. High soybean meal volumes traded domestically in China. Platts assessed CFR China first-month soybeans for March shipment up $7.08/mt at $427.24/mt Feb. 6 at the Asian close.
Over the Feb. 5 trading session, a May shipment of Argentine soybeans was heard traded on a CFR China basis at around 130 cents/bu over May (K) CBOT, and a June shipment was heard traded at 140 cents/bu over July (N) CBOT, market sources said.
“There were many people inquiring about indications last night,” a market participant said.
On the Dalian Commodity Exchange, the soybean meal May 2025 contract closed at Yuan 2,902/mt, down Yuan 30/mt on the day, while the soybean oil contract closed at Yuan 8,022/mt, up Yuan 126/mt day over day.
Around 275,000 mt of soybean meal was traded domestically over Feb. 5, with most of the volumes traded for spot delivery, market sources said.
Live hog spot prices were quoted at Yuan 17/Kg for South China, a local trade source said.
Platts is part of S&P Global Commodity Insights.
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