Platts clarifies methodology for FOB Black Sea wheat, corn assessments

Platts clarifies that it will continue to publish its assessments for wheat and corn from Pivdennyi, Odessa and Chornomorsk ports, following Russia's withdrawal from the Black Sea Grain Initiative.

Both FOB Black Sea corn (Ukraine) (symbol: CUBSU00) and FOB Black Sea wheat (Ukraine, 11.5%) (symbol: WUBSA00) assessments will represent a calculated value of grain loading in Pivdennyi, Odessa and Chornomorsk ports, derived from values at other locations in Ukraine, as well as at destinations and other competing origins using relevant logistics and quality spreads.

This follows feedback that market participants continue to require a consistent, ongoing reference point for grain prices in Ukraine.

Platts will continue to monitor and review the situation as it develops and publish any bids, offers, trades or indicative market values as those become available.

Please send any questions and comments to MTRS_GrainsRiceOilseeds@spglobal.com and 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.