S&P Global Commodity Insights launches four new Platts European grain assessments

Following the closure of a number of Russian and Ukrainian Black Sea ports as a result of the Russian invasion of Ukraine, S&P Global Commodity Insights is providing additional transparency into the European grain markets through the launch of four new Platts assessments.

S&P Global has launched the following four Platts assessments, effective March 14, 2022:

Assessment name Code

EU wheat FOB CVB basis Constanta (12.5%) ACVBA00

EU wheat FOB CVB basis Constanta (11.5%) ACVBB00

EU milling wheat CPT France basis Rouen, 11.0% ACPTA00

EU corn FOB CVB basis Constanta ACVBC00

These assessments are being published from March 14, on Platts Agricultural Alert page 1440, and will also be published in the Platts Daily Grains PDF from April 11, 2022.

The full specifications of these assessments will shortly be added to the S&P Global Grains and Oilseeds Specifications guide, and are as follows:

EU wheat FOB CVB basis Constanta (12.5%):

Quality: Price assessments reflect EU origin, soft wheat with a protein content of 12.5%, a minimum test weight of 77 kg/hl, a maximum moisture content of 14%, a minimum wet gluten content of 25%, a minimum W number of 180, a minimum Hagberg Falling Number of 250 seconds, maximum bug damage of 2.0% and maximum foreign matter content of 2%. Wheat of other origins or qualities may be considered but normalized back to 12.5% protein EU wheat FOB Constanta.

Quantity: Cargo assessments reflect cargo sizes from handy size to Panamax size, normalized to reflect parcels of 25,000 metric tons, with operational tolerance as per standard market practice.

Basis and location: FOB Constanta-Varna-Burgas (CVB), normalized to Constanta.

Timing: Loading 28 to 42 days ahead of date of publication.

Unit of assessment: US dollars per mt.

Notes: All other specifications and clauses should be as per market practice.

EU wheat FOB CVB basis Constanta (11.5%):

Quality: Price assessments reflect EU origin, soft wheat with a protein content of 11.5%, a minimum test weight of 76 kg/hl, a maximum moisture content of 14%, a minimum wet gluten content of 23%, a minimum W number of 160, a minimum Hagberg Falling Number of 230 seconds, maximum bug damage of 2% and maximum foreign matter content of 2%. Wheat of other origins or qualities may be considered but normalized back to 11.5% protein EU wheat FOB Constanta.

Quantity: Cargo assessments reflect cargo sizes from handy size to Panamax size, normalized to reflect parcels of 25,000 metric tons, with operational tolerance as per standard market practice.

Basis and location: FOB Constanta-Varna-Burgas (CVB), normalized to Constanta.

Timing: Loading 28 to 42 days ahead of date of publication.

Unit of assessment: US dollars per mt.

Notes: All other specifications and clauses should be as per market practice.

EU milling wheat CPT France basis Rouen, 11.0%:

Quality: Price assessments reflect EU origin, soft wheat with a protein content of 11.0%, a minimum test weight of 76 kg/hl, a maximum moisture content of 14%, a minimum wet gluten content of 23%, a minimum W number of 160, a minimum Hagberg Falling Number of 220 seconds, maximum bug damage of 2% and maximum foreign matter content of 2%. Wheat of other origins or qualities may be considered but normalized back to 11.0% protein EU wheat CPT Rouen.

Quantity: Cargo assessments reflect a standard parcel size of 1000 mt, CPT Rouen, with operational tolerance as per standard market practice.

Timing: Loading 28 to 42 days ahead of date of publication.

Unit of assessment: US dollars per mt.

Notes: All other specifications and clauses should be as per market practice.

EU corn FOB CVB basis Constanta:

Quality: Price assessments reflect corn with a maximum moisture content of 14.5%, maximum broken kernels of 5%, maximum damage of 5% (of which a maximum of 2% heat damage), and maximum foreign matter content of 2%. Corn of other origins or qualities may be considered but normalized back to EU corn FOB Constanta.

Quantity: Cargo assessments reflect export handysize cargoes, with operational tolerance as per standard market practice.

Basis and location: FOB Constanta-Varna-Burgas (CVB) berths capable of accepting Panamax vessels, normalized where necessary to Constanta.

Timing: Loading 28 to 42 days ahead of date of publication.

Unit of assessment: US dollars per mt.

Notes: All other specifications and clauses should be as per market practice.

Please send all feedback, comments or questions to europe_ags@spglobal.com and pricegroup@spglobal.com.

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