Platts proposes to launch new CPT Rouen France wheat assessment June 2

Platts, part of S&P Global Commodity Insights, proposes to launch a new daily price assessment for EU milling wheat CPT France, basis Rouen, effective June 2.

The proposed assessment would represent the value of wheat, carriage paid to Rouen port published in Eur/mt, reflecting typical market practice to transact in euros.

Platts already publishes an assessment for CPT Rouen in $/mt under the symbol ACPTA00.

After the launch of the Eur/mt assessment, the existing CPT Rouen assessment would be calculated using the relevant Eur/$ exchange rate (AAFCW00).

A monthly average would also be published for the new assessment. The dollar conversion monthly average would continue to be published under the symbol ACPTA03.

The specifications of the new proposed price assessment would be as follows:

Basis and location: CPT Rouen, France.

Quality: Soft wheat with a protein content of 11%, a minimum test weight of 76 kg/hl, a maximum moisture content of 14, a minimum Hagberg Falling Number of 220 seconds, a minimum wet gluten content of 23%, a minimum W number of 160, maximum foreign matter content of 2%.

Quantity: 1,000 mt.

Timing: Loading 28 to 42 days forward.

Payment terms: Cash against documents.

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

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

Amendments to existing $/mt CPT Rouen wheat assessments

In addition, Platts is proposing to amend the specifications of its existing $/mt CPT Rouen assessment (ACPTA00) to align with those proposed above. Namely, it would remove references to bug damage which is uncommon in quality specifications. Platts would also add payment terms to the specifications, as cash against documents.

Please send any feedback, questions or comments on this proposal to MRTS_AgricultureandFood@spglobal.com by April 30, 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.