Platts proposes new timestamp for Americas rice assessments

Platts is proposing to change the timestamp of its North and South American rice assessments from 2359 London time on the day prior to the date of publication, to 1630 London time on the day of publication, effective April 7, 2021.

Following Platts acquisition of the Live Rice Index (LRI) in September 2019, LRI has gradually transitioned to follow Platts price assessment methodology, including the publication of bids, offers and trades as a basis for assessments.

In order to ensure that this heard information can be received and tested in real time, Platts is proposing to amend the Americas rice assessments to a timestamp which falls within the trading days of both London and the basis locations for these assessments. This would also allow the publication of the assessments on the date to which they are timestamped.

Under this proposal, Platts would assess all 11 of its daily American rice assessments, as well as the related volatility calculations, with a timestamp of 1630, and would publish them on Platts Agricultural Alert on the same day. These daily prices would also appear in the following day's edition of Platts Rice Daily, but with validity for the previous working day.

The seven weekly American rice assessments and related volatility calculations would be timestamped to 1630 London time on a Thursday. They would be published on Platts price database and on Platts Agricultural Alert on the day of assessment, rather than timestamped to 2359 London time on a Thursday and published the following day as is done currently. These prices would continue to appear in Platts Rice Weekly, published on Friday.

This proposal affects the following daily American rice prices:

Grade Assessment Volatility

Uruguayan 5% Broken LRJAB00 RVJAB00

Argentine 5% Broken LRKAB00 RVKAB00

Brazilian 5% Broken LRGAB00 RVGAB00

Brazilian 100% Broken LRGBC00 RVGBC00

Brazilian PB 5% STX LRGCB00 RVGCB00

Uruguayan PB 5% STX LRJCB00 RVJCB00

US #2, 4% Broken (FOB Bulk) LRIBH00 RVIBH00

US #2 Paddy, 55/70 Yield LRIFI00 RVIFI00

100% S. Pet Food Quality LRIHI00 RVIHI00

US #1, 4% Broken LRIIH00 RVIIH00

US #1 Paddy, 58/69 Yield LRIJI00 RVIJI00

It also affects the following weekly American rice prices:

Grade Assessment Volatility

US #2 4% Broken Hard Milled FOB Lake Charles LRIAH00 RVIAH00

US #3 15% Broken Hard Milled FOB bulk NOLA LRICD00 RVICD00

US #5 20% Broken Hard Milled FOB Lake Charles LRIDF00 RVIDF00

US #1 Parboiled Milled 4% Broken FOB bulk NOLA LRIEH00 RVIEH00

US Southern Flour Quality Broken ex-works LRIGI00 RVIGI00

Uruguayan Olimar 5% Broken FOB FCL LRJBB00 RVJBB00

Paraguayan 5% Broken FOB FCL LRLAB00 RVLAB00

These prices are published on Platts Agricultural Alert pages PAA601, PAA3000, PAA3003, PAA3005, PAA602, and PAA604.

Please send all comments, feedback and questions to ags@spglobal.com and pricegroup@spglobal.com by Feb. 24, 2021.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.