Platts proposes to amend APW Wheat FOB Australia quality specifications, June 20

Platts, part of S&P Global Commodity Insights, proposes to change the quality specifications for its APW Wheat FOB Australia (symbol:WAUSA00) assessment, effective June 20.

Platts proposes to align the quality specifications with those Grain Trade Australia outlined.

Current quality specifications read: "The assessment represents spot Australian export qualities, normalized to Australian Premium White (APW) grade with a minimum of 10.5% protein (on an 11% moisture basis), a maximum of 12.5% total moisture, a minimum Hagberg Falling Number of 300 seconds and a wet gluten content of 24.5%."

Market feedback has indicated that the existing quality specifications for APW wheat in the methodology are not reflective of current trade standards, for example, the minimum guarantee on wet gluten content, which is not required by trade participants.

Instead, the quality specifications would be reworded to reflect current Grain Trade Australia standards. Grain Trade Australia, or GTA, is an advocacy organization for the Australian Grain Industry that formalizes trading rules and is the standard for grain trade contracts across the Australian grain industry."

Hence, the proposed revision to the quality specifications would read: "The assessment represents spot Australian export qualities, meeting the Grain Trade Australia (GTA) standard for APW1, which has a minimum protein guarantee of 10.5%."

Please send any feedback, questions or comments by May 22 to MRTS_AgricultureandFood@spglobal.com and pricegroup@spglobal.com. For written comments, please provide a clear indication if the 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.