SUBSCRIBER NOTE: Platts proposes to launch daily US Gulf Coast soybeans assessments

S&P Global Platts proposes to launch two new daily spot physical assessments for US soybeans, effective September 27, 2018. This proposal is in line with interest in a transparent and clearly defined export price in the region, and adds to already-launched offerings in China and Brazil.

Platts will assess standard US Federal Grain Inspection Service grade #2 Yellow Soybeans based on composite sample, 14% moisture maximum and a standard protein level of 34.5% and oil level of 18.5%. Other qualities may be considered but will be normalized back to the reference quality.

One assessment will reflect the daily traded or tradable value basis FOB New Orleans port. Other locations may be considered but will be normalized back to the basis location. The assessment will reflect typically traded volumes on a FOB basis for seaborne shipment, as well a full or partial cargo on a Panamax vessel.

The second assessment will reflect the daily traded or tradable value of CIF New Orleans barges. The assessment will reflect 55,000-bushel barges delivered to New Orleans. Other volumes may be considered but will be normalized back to the reference volume.

The FOB NOLA assessment will reflect loading within the next calendar month. The assessments will roll to the following calendar month on the 16th of the current month unless that day is not a business day, in which case the assessment will roll on the next business day. For example, Platts would assess January loading on December 14 and February loading on December 17.

The CIF NOLA barge assessment will reflect material being delivered during the current month of the date of publication. The assessments will roll to the next month on the 23rd of the current month unless that day is not a business day, in which case the assessment will roll on the next business day.

In the absence of representative FOB NOLA price information, Platts may also refer to CFR prices in China, and will use prevailing spot freight rates and origin adjustments to normalize to FOB NOLA.

Platts proposes to publish all price assessments as cent/bushel premiums and as $/mt values using the settlement value of the CBOT soybean futures contract. The assessments will reflect a market close time stamp of 2:30 pm Eastern Time.

As per Platts methodology, the assessments will be made using transactional information collected daily, including trades, bids and offers.

Platts welcomes all feedback and questions on the proposed new assessments through August 31, 2018. Please send all questions and feedback to america_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.