Platts decides new roll date for Latam Soybean Oil, new forward month assessment for FOB Paranagua

Following a review of market feedback, Platts, part of S&P Global Commodity Insights, will update the monthly roll date for its Brazil and Argentina Soybean Oil daily price assessments, as well as launch a new second-month price assessment for the Brazilian FOB Paranagua soybean oil market, effective May 16.

The proposal for this was initially published Feb. 17, available here.

Platts will roll the assessed front-month loadings in both Argentina and Brazil on the first business day after the 20th day of each month. The assessments impacted are the Soybean Oil Argentina FOB Up River published under symbol SYOAB00 and Soybean Oil Brazil FOB Paranagua published under symbol SYOBB00.

The update will align assessments to better reflect the minimum 10-day vessel nomination guidelines as stated in the relevant international trade contracts FOSFA 51 for Argentina and ANEC 81 for Brazil.

In addition, Platts will launch a new second-month forward price assessment for the Brazilian FOB Paranagua soybean oil market under the symbol SYOBA02, with the basis for such an assessment under symbol SYOBB02. The new assessment will be used in the Platts Brazil Soybean Crush Spread FOB Paranagua, a calculated price based on values for soybean, soybean oil and soybean meal in Brazil.

The new assessment will result in the same month for soybean, soybean meal and soybean oil being used in the calculation. For example, from April 16-20, the Brazilian soybean and soybean meal front-month assessments would reflect loadings for June dates, while the front-month assessment for soybean oil would be for May. So, in this case, the calculation would consider the second-month price assessment for the FOB Paranagua soybean oil market, which would be June. From April 21 to May 15, in turn, all the prices used in the calculated Soybean Crush Spread FOB Paranagua assessment would be for June shipment.

The second-month forward FOB Paranagua soybean oil price will also give further market transparency to Brazil's biodiesel industry and fuel distributors.

Please send any further feedback, questions or comments on this decision to americas_ags@spglobal.com, copying pricegroup@spglobal.com.

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