S&P Global Commodity Insights suspends Ukraine element of corn arbitrage matrix

Effective March 1, S&P Global Commodity Insights is pausing publication of the Ukraine corn component of the corn arbitrage price matrix, as a result of the continued closure of all Ukrainian seaports.

The corn arbitrage matrix allows for the comparison of corn prices from different origins on a unified basis in order to understand the most competitive source of supply.

The following assessments and fixed pages will be affected:

Corn Replacement CFR Ukraine-NE Asia at London MOC: CUKAR00

Corn Margin CFR Ukraine-NE Asia at London MOC: CCMUK00

Corn Margin CFR Ukraine-NE Asia at Singapore MOC: CUKAG00

PAA 0622

PAA 1622

PAA 2622

On Feb. 24, 25, and 28, S&P Global published the corn matrix using the most recent available freight rates for Ukrainian corn, which were for Feb. 23.

However, in the absence of more recent freight market information, S&P Global is pausing publication of the Ukraine component in order to ensure that all parts of the corn matrix represent values for physically-deliverable corn using comparable freight rates.

As detailed in a subscriber note published Feb. 25, S&P Global will not publish PP43 Grains Odessa, Ukraine to Qingdao, China, 60kt GUQNA00 until further notice.

Please send any questions and comments to Europe_ags@spglobal.com and 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 upon request.