What are Platts wheat price assessments?
Platts began assessing Black Sea grains in 2014 and now publishes a range of wheat assessments tailored to specific markets that are used globally by the industry to manage risk. FOB Ukraine 11.5% was added in April 2020.
We continuously work with key industry stakeholders to ensure that our price assessments evolve in step with changing market conditions. Platts regularly holds methodology forums, webinars and one-to-one meetings to exchange views on the development of all its key markets and to identify potential changes to the current methodology.
Black Sea & Europe
The Black Sea wheat coverage encompasses wheat production and exports from countries bordering the Black Sea. Our market coverage focuses primarily on supply from Russia and Ukraine, but also looks at exports from Kazakhstan, Romania, Bulgaria, Serbia and Hungary.
Platts publishes four daily USD per mt wheat price assessments:
• FOB Novorossiisk Russian origin, soft wheat with a protein content of 12.5%, on vessels handy size to Panamax size
• FOB Odessa, Pivdennyi and Chornomorsk Ukraine origin, soft wheat with a protein content of 11.5%, on cargo sizes from handy size to Panamax size
• FOB Azov Sea ports origin-free soft wheat with a protein content of 12.5% 3,000 mt parcels
• CIF Sea of Marmara origin-free soft wheat, with a protein content of 13.5% 3,000 mt parcels
• APW FOB Australia
Platts APW Wheat FOB Australia reflects the spot physical price for Australian wheat exports. Platts began assessing Australian wheat export prices on November 9, 2015.
This price assessment represents the daily tradable value of Australian Premium White (APW) wheat, 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%.
Platts APW Wheat FOB Australia reflects the daily traded or tradable value of Australian wheat exports in USD per metric ton.
The assessment complements Platts existing suite of wheat assessments in the Black Sea and Europe.
• ASW FOB Australia
On October 1, 2019, Platts launched an Australian Standard White (ASW) wheat FOB Australia assessment. This is to reflect the substantial liquidity in the export market for Australian wheat with lower protein content, and as importers closely track grade differentials prior to making purchasing decisions.
It is a daily price assessment in USD per metric ton reflecting the traded or tradable value of spot physical cargoes transporting typical spot low protein exportable quality wheat grade, normalized to ASW1 as per Grain Trade Australia specifications, with maximum 12.5% total moisture and minimum falling number of 300 seconds.