SUBSCRIBER NOTE: Platts launches FOB Brazil, FOB Argentina corn assessments

S&P Global Platts on Friday launched two new daily spot physical price assessments for South American corn.

The two assessments reflect the price of cargoes FOB Santos for Brazil and FOB Up-River for Argentina.

The new assessments are in line with interest in a transparent and clearly defined export prices in the region.

BRAZIL

The Brazil assessment reflects the daily traded or tradeable value basis FOB Santos port, though other locations may be considered but will be normalized back to the basis locations.

The assessment reflects cargoes of 60,000 mt plus/minus 10% operational tolerance.

Platts assesses Brazil ANEC corn specification for the FOB Santos assessment.

Due to the seasonality of the country's export market, the daily FOB Brazil assessment has two different approaches according to the time of the year:

From July 16 to December 15, the assessment will reflect the next month of loading and will roll to the following calendar month on the 16th of the current month unless that day is not a business day, in which case the assessment rolls over on the next business day.

For example, on August 15 Platts will assess cargoes loading over September, and on August 16 Platts would assess cargoes loading over October.

From December 16 to July 15, the assessment will reflect cargoes due to load only during the upcoming August.

ARGENTINA

The Argentine assessment reflects the daily traded or tradeable value basis FOB Up-River port, though other locations may be considered but will be normalized back to the basis locations.

The assessment reflects 40,000 mt plus/minus 10% operational tolerance.

The assessment reflects GAFTA grade 2 corn specification for FOB Up-River.

The FOB Argentina assessment reflects loading within the next calendar month.

The assessments will roll to the following calendar month on the 16th of the current month unless that day is not a business day, in which case the assessment rolls over on the next business day.

For example, on July 15 Platts would assess loading over August, while on July 16 Platts would assess loading over September. BOTH ASSESSMENTS

Both price assessments are published as cents/bushel differentials or basis as well as $/mt values using the settlement value of the CBOT corn futures contract.

The assessments reflect a market close time stamp of 5:30 pm Sao Paulo time.

As per Platts methodology, the assessments are made using transactional information collected daily, including trades, bids and offers.

Platts welcomes all further feedback and questions on the new assessments.

Please send all questions and feedback to americas_ags@spglobal.com, with a copy to pricegroup@spglobal.com

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 to the public upon request.