Platts launches EXW Spain soybean meal assessment Oct 1

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

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

The launch of the new assessment was first proposed Aug. 15 in a subscriber note available here and confirmed Aug. 29 in a subscriber note available here.

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 Soybean meal EXW Spain assessment is published daily in euros per metric ton as an outright price and under the symbol SMESE00, with a monthly average to be published under the symbol SMESE03. Platts also publishes a conversion to US dollars per metric ton using the relevant Eur/$ exchange rate (AAFCW00). Soybean meal EXW Spain in $/mt will be published under the symbol SMESD00, and the monthly average will be published under the symbol SMESD03.

The assessments are published in Daily Grains and Protein Daily, and are available on Platts Connect.

The assessments 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 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.