Subscriber note: Platts changes Chicago Rule 11 ethanol assessment timing

As part of Platts practice to review, refine and enhance its assessment processes, Platts will adjust the timing for its assessment of Chicago Rule 11 Ethanol, effective June 21, 2013. Platts current Chicago Rule 11 assessments reflect trades of minimum five rail car lots (145,000 gallons) basis FOB Chicago, for delivery five to 15 days forward from publication date. "Rule 11" is a railroad accounting term that refers to a customer shipping freight "pre-paid" to an intermediate point and "collecting" beyond that intermediate point to the final destination. Following industry feedback, Platts has determined that industry practices reflect This-Week-Shipment (TWS) and Next-Week-Shipment (NWS) systems of delivery. Platts timing will be that, from Monday through Wednesday, the timing for the Chicago Rule 11 ethanol assessment will reflect This-Week-Shipment (TWS); on Thursday and Friday, the timing of the assessment will reflect Next-Week-Shipment (NWS). For example, on June 3, the loading timing will reflect June 4 through June 8. On June 6, the loading timing will roll to June 9 through June 15. Comments please to biofuels@platts.com, with a cc to pricegroup@platts.com.