Platts proposes to launch EXW Spain corn assessment May 1

Platts, part of S&P Global Commodity Insights, proposes to launch a new daily price assessment for corn, ex-works Spain, effective May 1.

The proposed assessment would represent the value of corn in Spain, the EU's largest importer of the feed grain and its largest producer of animal feed. The EU consumed an average of 78 million mt/year of corn between 2020 and 2024. Corn is a key component of feed for the pork, poultry and beef sectors, in which Platts launched coverage in 2024, details of which can be found here .

The specifications of the new proposed price assessment are as follows:

Basis and location: EXW Catalonia region.

Quality: Maximum moisture content of 14.5%, maximum broken kernels of 5%, maximum damage of 5%, and maximum foreign matter content of 2%.

Quantity: Minimum 27 mt.

Timing: Loading 30 to 60 days forward.

Payment terms: Cash against documents.

The new corn price assessments would be published in euros per metric ton (Eur/mt), with a value also published in US dollars per metric ton ($/mt) converted using the relevant Eur/$ exchange rate (AAFCW00). A monthly average would also be published for both corn assessments.

The assessments would consider market information reported to Platts, published as heards throughout the day, including firm bids and offers, trades, indicative values, and any other data deemed relevant to the assessment process.

The daily assessments would reflect a 4:30 pm London timestamp and follow the Platts London publishing schedule.

Please send any feedback, questions, or comments on this proposal to MRTS_AgricultureandFood@spglobal.com by March 21, copying 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.