Platts proposes to launch ASW wheat FOB Australia assessment Oct 1

S&P Global Platts proposes to launch a daily Australian Standard White, or ASW, wheat FOB Australia assessment, effective October 1, 2019.

Platts currently assesses Australian Premium White, or APW, wheat FOB Australia, and is proposing this new assessment to reflect the substantial liquidity in the export market for Australian wheat with a lower protein content, as importers closely track grade differentials prior to making purchasing decisions.

QUALITY: The proposed new ASW assessment would reflect product meeting the Grain Trade Australia standards for ASW1, but with an average protein level for the new crop ASW1 harvested in Western Australia for that particular crop year.

At the start of each harvest, typically around October-November, Platts will, based on market feedback, announce what is the average protein content of the new crop ASW1 produced in Western Australia that will be reflected in its ASW assessment for the remainder of the marketing year. All other ASW cargoes with a protein content different from the average in a particular year may be normalized back to the standard.

VOLUME AND LOCATION: The proposed ASW assessment would reflect a 30,000 mt cargo loading from Kwinana, Western Australia.

TIMING: The assessment will reflect the prevailing market value at 4:30 pm Singapore time (0830 GMT) for cargoes loading 60-90 days forward from the date of publication.

Please send any comments or questions by August 31 to asia_ags@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.