Platts to round the Milling Wheat Marker to the nearest 25 cents, Jan 2

Platts, part of S&P Global Commodity Insights, will round its Milling Wheat Marker (MWM, symbol BSMWM00) price assessment to reflect the nearest 25 cents, effective Jan. 2, 2026.

Rounding to the nearest 25 cents aligns with standard market practices in wheat trading, which simplifies transactions and facilitates easier price agreements, according to feedback from market participants.

The rounding was first proposed on Oct. 24, in a subscriber note available here.

For example, if the MWM was previously assessed at $231.12/mt, from Jan. 2, the Marker will reflect the nearest 25 cents of $231/mt. If the Marker was assessed at $231.13/mt, from Jan. 2 it will be assessed at $231.25/mt.

Platts launched the MWM on June 2.

Platts MWM represents the most competitive handysize vessel of the 12.5% protein milling wheat from the Black Sea. It is determined using the most competitive value from three of Platts daily wheat assessments: Russian Wheat 12.5% FOB Black Sea (WRBSD00), Wheat FOB CVB 12.5% (ACVBA00), and Ukraine Wheat 11.5% FOB Black Sea (WUBSA00).

Platts applies a quality normalization to the Ukraine 11.5% assessment to account for its lower protein content. This considers the average price difference between the most competitive 12.5% wheat from Russia or CVB and Ukraine's 11.5% wheat over the previous calendar month. Based on market feedback, Platts then applies an adjustment factor of 140% to bring the values to a point of comparability. This factor is reviewed monthly and adjusted as required.

Full details of the specifications can be found in the Global Grains and Oilseeds Specifications Guide here .

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.