Platts proposes to amend CFR Indonesia Wheat Price Matrix Aug 1

Platts, part of S&P Global Commodity Insights, proposes to amend the daily global CFR Indonesia wheat price matrix by adding a new wheat origin to the matrix and updating the specifications of an existing calculated wheat assessment within the matrix, effective Aug. 1, 2025.

Platts proposes the addition of a Ukraine wheat assessment to the CFR Indonesia wheat price matrix. This proposal reflects market feedback, bulk shipment data from trade flow software S&P Global Commodities at Sea, and customs data confirming a rebound in Ukrainian milling wheat exports to Indonesia since 2024 to pre-war levels. The inclusion of Ukrainian wheat in the matrix would increase the breadth and transparency of delivered prices of milling wheat into Indonesia, one of the largest wheat importers in the world.

The assessment would be derived by adding Platts' existing Ukraine Wheat 11.5% FOB Black Sea (WUBSA00) to a calculation of freight costs. It would represent Panamax-sized cargoes delivered to Cigading 28 to 42 days forward.

In addition, Platts proposes to amend the following assessment within the matrix - EU Wheat 11.5% FOB CVB Basis Constanta (ACVBB00), reflecting market feedback on the basis port and shipment size. The proposed changes are summarized as follows:

1. The cargo size would be adjusted from a Panamax to a Supramax, changing from 60,000 mt to 50,000 mt for wheat shipments to Indonesia, with corresponding changes in the freight calculation.

2. The basis port would be revised from Constanta to Varna, aligning the price assessment with the prevalent shipping route to Indonesia.

3. The assessment name would be replace "EU 11.5%" to "CVB 11.5%" for clarity.

Further details about the CFR Indonesia Wheat matrix can be found here https://www.spglobal.com/commodity-insights/en/pricing-benchmarks/our-methodology/subscriber-notes/121123-platts-launches-cfr-indonesia-wheat-price-matrix-from-dec-11

Please send any feedback, questions or comments on the proposed changes for the wheat CFR price matrix by July 2, 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.