Platts will launch EXW Spain Corn assessment, May 1

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

The assessment will represent the value of corn in Spain, the EU's largest importer of this feed grain and its top producer of animal feed

The launch of the new assessments was first proposed on March 4, in a subscriber note available here.

Upon review of market feedback received during the proposal phase, Platts will change the basis and location to EXW Tarragona instead of the originally proposed EXW Catalonia region. In addition, Platts will change the timing to 'to be loaded up to 30 days from the date of publication' instead of 'loading 30-60 days forward'.

The specifications of the price assessment are as follows:

• Basis and location: EXW Tarragona
• 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: To be loaded up to 30 days from the date of publication
• Payment terms: Cash against documents

The new corn price assessments will 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 will also be published for both corn assessments.

The assessments will 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 will 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, 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.