Platts to launch Canada wheat FOB Vancouver assessment on Nov. 1

S&P Global Platts will launch a Canadian Western Red Spring Wheat price assessment, effective Nov. 1, 2021.

The daily Canadian wheat assessments will build on Platts' other wheat assessments such as FOB Black Sea wheat (Russia, 12.5%) and Australian Premium White Wheat to bring greater transparency to the global wheat market.

The assessment would reflect Number 2 Canada Western Red Spring (No. 2 CWRS) wheat with a protein content of 13.5%, a minimum test weight of 78 kg/hL, a maximum moisture content of 14.5%, a maximum vomitoxin of 2 ppm, a minimum Falling Number of 300 seconds all other specifications are as stated by the Canadian Grain Commission. Wheat with a higher or lower protein content may be considered, but normalized back to 13.5% protein.

The assessment would reflect partial cargoes to full Panamax cargoes; 20,000 mt to 60,000 mt, plus or minus 10% operational tolerance FOB Vancouver.

Platts will assess three rolling time periods. The assessment will reflect the price of wheat loading 30-45 days, 45-60 days and 60-75 days forward from date of publication. Assessing wheat loading over a rolling date aligns the Canadian wheat assessment more closely with Platts' other wheat assessments.

The assessments would be published in US dollars/mt, as well as a US dollars/bushel differential, or basis, to the Minneapolis Grain Exchange hard red spring wheat futures settlement price. The relevant futures contract month letter code will be published next to the basis value.

Platts proposes to publish No. 2 CWRS wheat assessment reflect the prevailing market at 1:30 pm (1330) Central Time.

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