SUBSCRIBER NOTE UPDATE: Platts proposes daily EU feed wheat and corn assessment

Platts proposes to launch a new daily spot physical assessment for EU feed wheat and EU corn, on a CIF Netherlands basis, in response to widespread market demand.

The daily assessments would launch on October 1, 2015 and would reflect the daily traded or tradable value of cargoes of CIF corn and CIF feed wheat, basis the Netherlands (defined as the ports of Amsterdam-Rotterdam-Antwerp-Ghent) for delivery six to eight weeks forward from that day's date, as at 1630 London time.

It is proposed that quality specifications would be normalized to standard requirements for corn and to meet prevailing requirements for feed grade wheat. Platts will also accept and report bids, offers, and other market information for different sizes of cargoes reported by the market.

For assessment purposes, such cargoes may be normalized to reflect the value for a 60,000 mt parcel. As per Platts' methodology, the assessment would be made using transactional information collected daily, including transactions, bids and offers.

In the absence of representative CIF Netherlands corn and wheat price information, Platts may also refer to FOB prices from relevant supply origins using prevailing spot freight rates.

Platts is inviting feedback on the proposed new assessments and the specifications through September 18, 2015. Please send all questions and feedback to europe_ags@platts.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.