SUBSCRIBER NOTE: Platts to launch daily US Gulf Coast soybean assessments

Following a review of feedback, effective September 27, 2018, S&P Global Platts will launch two new daily spot physical assessments for US soybeans. The launch 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.

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 locations. The assessment will reflect 60,000 mt or a full cargo on a Panamax vessel with a 10% operational tolerance; other volumes may be considered but would be normalized back to the reference volume.

The second assessment will reflect the daily traded or tradable value of CIF New Orleans barges. The assessment will reflect 55,000-bushel barges with a 5% operational tolerance delivered to New Orleans; other volumes may be considered but would be normalized back to the reference volume.

Platts will assess standard US Federal Grain Inspection Service grade No. 2 Yellow Soybeans 14% moisture max and a standard protein level of 34.5% and oil of 18.5%; other qualities may be considered but would be normalized back to the reference quality.

The FOB NOLA cargo assessment will reflect loading within the next calendar month. The assessments would 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 rolls over on the next business day. For example, on September 14, Platts would assess loading in October, and on September 17, Platts would assess loading in November.

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 rolls over 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 will publish the basis assessments as cent/bushel premiums and the flat price assessments as $/mt values using the settlement value of the CBOT soybean futures contract. The assessments would reflect a market close time stamp of 2:30 pm Eastern.

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

Platts welcomes all further feedback and questions on the new assessments. 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.