SUBSCRIBER NOTE: Platts launches daily US Gulf Coast soybean assessments

S&P Global Platts launched two daily spot physical assessments for US soybeans, effective September 27, 2018.

The launch is in line with interest in a transparent and clearly defined export price in the region and adds to existing offerings for China and Brazil.

One assessment reflects 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 reflects 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 reflects the daily traded or tradable value of CIF New Orleans barges. The assessment reflects 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 assesses standard US Federal Grain Inspection Service grade No. 2 Yellow Soybeans, with maximum 14% moisture, a standard protein level of 34.5% and a standard oil level of 18.5%. Other qualities may be considered, but would be normalized back to the reference quality.

The FOB NOLA cargo assessment reflects loading within the next calendar month. The assessments rolls 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 October 15, Platts would assess loading in November, and on October 16, Platts would assess loading in December.

The CIF NOLA barge assessment reflects 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.

The basis assessments are published as cents/bushel premiums and the flat price assessments as $/mt values using the settlement value of the relevant CBOT soybean futures contract. The assessments would reflect a market close time stamp of 2:30 pm Eastern.

The daily price assessments will be published in the Platts Daily Grains report as well as on pages 810 and 811 on Platts Agriculture Alert.

The daily assessment will be published on the Platts database under the following symbols:

SYBBI00 SOYBEX FOB New Orleans - $/mt SYBBJ00 Soybeans FOB New Orleans Basis - c/bu

SYBBL00 Soybeans CIF New Orleans - $/mt SYBBK00 Soybeans CIF New Orleans Basis - c/bu

Per Platts methodology, the assessment will be made using transactional information collected daily, including trades, bids and offers.

Platts welcomes all further feedback and questions on the 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.