Platts proposes to launch EXW Spain soybean meal assessment Oct 1

Platts, part of S&P Global Commodity Insights, proposes to launch a new daily price assessment for soybean meal, ex-works Spain, effective Oct. 1.

The proposed assessment would represent the value of soybean meal in Spain, the EU's largest producer of animal feed. The EU consumed an average of 28 million mt/year of soybean meal between 2020 and 2024. Soybean meal is a key component of feed for the pork, poultry and beef sectors, in which Platts launched coverage in 2024, details of which can be found here.

The specifications of the new proposed price assessment are as follows:

• Basis and location: EXW Barcelona
• Quality: Protein 46.5%
• Quantity: Minimum 27 mt
• Timing: To be loaded up to 30 days from the date of publication
• Payment terms: Cash against documents

The new soybean meal price assessments would be published in euros per metric ton (Eur/mt), with a value also published in US dollars per metric ton ($/mt) converted using the relevant Eur/$ exchange rate (AAFCW00). A monthly average would also be published for both soybean meal assessments.

The assessments would consider market information reported to Platts, published as heards throughout the day, including firm bids and offers, trades, indicative values, and any other data deemed relevant to the assessment process.

The daily assessments would reflect a 4:30 pm London timestamp and follow the Platts London publishing schedule.

Please send any feedback, questions, or comments on this proposal to MRTS_AgricultureandFood@spglobal.com by Aug. 29, copying 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.