Platts to launch EXW Spain soybean meal assessment Oct 1

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

The assessment will represent the value of soybean meal in Spain, the EU's largest producer of animal feed.

The launch of the new assessment was first proposed on Aug. 15, in a subscriber note available here.

Upon review of market feedback received during the proposal phase, Platts will change the basis and location to cover Tarragona, as well as Barcelona. The assessment will represent the most competitively priced soybean meal from either of these locations on an ex-works basis.

In addition, Soybean meal EXW Spain will reflect meal with a protein content of 46% instead of the originally proposed 46.5% following feedback that this has now become the standard for the market.

The specifications of the price assessment are as follows:

• Basis and location: EXW Barcelona/Tarragona
• Quality: Protein 46%
• 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 will 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 will also be published for both soybean meal assessments.

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

Please send any feedback, questions, or comments to MRTS_AgricultureandFood@spglobal.com, 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.