SUBSCRIBER NOTE: Platts launches daily APW Wheat FOB Australia assessment

Platts Monday launched a new daily APW Wheat FOB Australia assessment, which reflects the traded or tradable value of spot physical cargoes.

The assessment represents typical spot Australian export qualities, normalized to Australian Premium White (APW) grade with a minimum of 10.5% protein (on an 11% moisture basis), a maximum of 12.5% total moisture, a minimum falling number of 300 seconds and a typical flour wet gluten of 24.5%.

The assessment's volume, location and timing reflect typical Australian wheat exports, normalized to 30,000 mt loading in Kwinana, Western Australia, in 60-90 days.

As per Platts' methodology, the assessment is made using transactional information collected daily, including transactions, bids and offers. In the absence of representative FOB Australia price information, Platts may also refer to CFR prices in relevant destinations using prevailing spot freight rates.

The assessment is published in Platts Daily Grains, Platts Market Data and Platts Agriculture Alert pages 2440, 2612, 2699 and 2700.

Please send all questions and feedback to asia_ags@platts.com.