Platts to launch FOB Rouen France wheat assessment, July 1

Platts, part of S&P Global Commodity Insights, will launch a new daily price assessment for EU milling wheat, FOB France basis Rouen, effective 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 launch of the new assessment was first proposed on April 16, in a subscriber note available here. Platts then extended the proposal feedback period on May 1 in a subscriber note linked here.

The specifications of the price assessment are 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 original proposed loading window of 28-42 days forward was updated to 7-30 days forward following feedback from the market. Likewise, the original proposed maximum moisture content of 14% was increased to 15% based on market feedback.

The new wheat price assessment will 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 will also be published for both assessments.

The assessment will 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 will 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.