Platts launches EXW Spain corn assessment, May 1

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

The assessment represents the value of corn in Spain, the EU's largest importer of the feed grain and its largest producer of animal feed.

The launch of the new assessment was first proposed on March 4 in a subscriber note available here and confirmed on March 31 in a subscriber note available here.

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 corn EXW Spain price assessment is assessed daily in Eur/mt as an outright price and published under the symbol CESEU00, with a monthly average to be published under the symbol CESEU03. Platts also publishes a conversion to US dollars per metric ton using the relevant Eur/$ exchange rate (AAFCW00). Corn EXW Spain in $/mt will be published under the symbol CESEV00 and the monthly average will be published under the symbol CESEV03.

The assessments are published in Daily Grains and Protein Daily and are available on Platts Connect.

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

Please send any feedback, questions, or comments 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.