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

Platts, part of S&P Global Commodity Insights, is extending the feedback period for its proposal to launch a new daily price assessment for EU milling wheat CPT France, basis Rouen, to July 31.

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

Platts first proposed launching the assessment on April 16, in a subscriber note available here(opens in a new tab). Platts then extended the proposal feedback period on May 1 in a subscriber note linked here(opens in a new tab).

Platts is seeking further feedback on the timing of the specifications. Platts understands the delivery window is for "one calendar month forward" than the originally proposed "loading 28-42 days."

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 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: 1,000 mt

Timing: Delivery one calendar month forward from the date of assessment

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 July 31, 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.