Platts extends feedback period for proposed launch of FOB Rouen France wheat assessment

Platts, part of S&P Global Commodity Insights, is extending the feedback period for its proposal launch of a daily price assessment for EU milling wheat, FOB France basis Rouen, to May 30.

The proposed launch date of June 2 is also revised to July 1, following the extension of the feedback period.

Platts first proposed to launch the assessment on April 16, in a subscriber note available here, with a feedback period ending April 30.

Platts is seeking further feedback on the timing and quality of the specifications. Platts understands the loading window is for "seven to 30 days forward", rather than the originally proposed "loading 28-42 days," and the quality specifications to a maximum moisture content of 15% instead of 14%.

As a result of the extended feedback period, Platts proposes a new launch date for July 1.

France is the EU's largest exporter of wheat, with seaborne exports exceeding 8 million mt of wheat annually. Rouen accounts for 4.6 million mt of these exports each year.

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

• Basis and location: FOB Rouen, France
• Quality: Soft wheat with a protein content of 11%, a minimum test weight of 76 kg/hl, a maximum moisture content of 15%, 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: basis 30,000 mt
• Timing: Loading seven to 30 days forward from the date of assessment
• Contractual loading rate: 8,000 mt per weather working day of 24 consecutive hours; Saturdays, Sundays and Holidays excluded.
• Payment terms: Cash against documents

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

The assessment 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 May 30, copying to 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.