SUBSCRIBER NOTE: Platts proposes to launch daily FOB Brazil soybean assessments

S&P Global Platts proposes, effective July 31, 2018, to launch two new daily spot physical assessments for FOB Brazil soybeans. The proposal is in line with interest in a transparent and clearly defined export price in the region.

One assessment would reflect the daily traded or tradable value basis FOB Santos port, other locations may be considered, but will be normalized back to the basis locations. The assessment would reflect 60,000 mt +/-10% operational tolerance.

The second assessment would reflect the daily traded or tradable value and FOB Paranagua paper market. The assessment would reflect 1,000 to 5,000 mt +/-10% operational tolerance.

Platts proposes to assess Brazil ANEC soybean specification with oil content of 18.5% and minimum protein level of 34.5%.

Both assessments would reflect loading within the next calendar month. The assessments would roll to the following calendar month on the 20th of the current month unless that day is not a business day, in which case the assessment rolls over on the next business day. For example, on July 19 Platts would assess loading in August, on July 20 Platts would start assessing loading over September.

Platts also proposes to assess New Crop loading. As of September 20, Platts will start to assess March loading, labelled as NC, up until March becomes the front-month January 20. On which date the NC March assessment is the front-month assessment.

Platts proposed to assess publish all price assessments as cent/bushel premiums as well as $/mt values using the settlement value of the CBOT soybean futures contract. The assessments would reflect a market close time stamp of 5:30 pm Sao Paulo time.

As per Platts methodology, the assessment would be made using transactional information collected daily, including trades, bids and offers.

Platts welcomes all feedback and questions on the proposed new assessments through to June 26, 2018. Please send all questions and feedback to america_ags@spglobal.com with CC to pricemethodology@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 to the public upon request.