SUBSCRIBER NOTE: Platts launches daily SOYBEX CFR China soybeans assessment

S&P Global Platts launched a new daily spot physical assessment for Soybeans CFR China, effective July 31, 2018. The launch is in line with interest in a transparent and clearly defined import price in a region of high growth and consumption.

The assessment will reflect the tradable value of soybeans delivered CFR North China. Platts may consider shipment to other ports in North East Asia and/or values of relevant origins on a FOB basis to inform the assessment process, using prevailing spot freight rates and origin adjustments to normalize back to the assessment standard.

The standard specification reflects shipment on Panamax vessels with a typical 10% operational tolerance, for arrival four months following the date of publication. The reference quality will reflect Brazil ANEC soybean specification with standard oil content of 18.5% and a standard protein level of 34.5%, other qualities may be considered in the assessment process and would be normalized back to the reference quality.

The assessment period will roll to the next calendar month on the first business day of the following month. For example on August 31 Platts would assess arrival in December, from September 1 Platts would assess arrival over January.

Platts will publish the assessment as a premium over the prevailing CBOT soybean futures contract value at timestamp, in cents/bushel and as a flat price in US$ metric ton. The timestamp for assessment and prevailing futures value will be 16:30 Singapore. Previously Platts advised that the basis futures contract would reflect the prevailing rate at 21:30 in Singapore, after further consultation and consideration, Platts has decided to align the basis and premium assessment timestamp to 16:30 Singapore at launch, with a view to monitoring liquidity and seeking further feedback on the optimum time to assess the basis contract.

SYBAB00 SOYBEX CFR China SYBAA00 Soybeans CFR China basis

Platts welcomes all further feedback and questions on the new assessments. Please send all questions and feedback to asia_ags@spglobal.com with CC to 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 to the public upon request.

--Edited by Richard Rubin, richard.rubin@spglobal.com