Platts to launch CFR Indonesia wheat price matrix Dec 4

Platts, part of S&P Global Commodity Insights, will launch a daily global CFR Indonesia wheat price matrix, and three associated calculated wheat assessments, on Dec. 4.

The matrix will reflect the price of common milling wheat grades delivered into Indonesia, one of the biggest wheat importers in the world, amid increasing demand for transparency regarding delivered prices of milling wheat into Southeast Asia.

This decision follows a proposal published Oct. 20, in a subscriber note available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/102023-platts-proposes-to-launch-daily-cfr-indonesia-wheat-price-matrix

The wheat CFR price matrix will reflect the calculated assessments of three milling wheat grades Australian Premium White, Canadian Western Red Spring (13.5%), EU 11.5% wheat delivered into Indonesia. The assessments will be on 60,000 mt cargoes basis and use Cigading as a basis port.

The wheat CFR price matrix will reflect the latest Platts global assessments available at 4:30 pm Singapore time each day, with the existing assessments to be used in the matrix as follows:

1. (WAUSA00) APW Wheat FOB Australia

2. (AWHCF00) CWRS Wheat 13.5% FOB Vancouver (60-75 days)

3. (ACVBB00) EU Wheat 11.5% FOB CVB Basis Constanta

In line with this, Platts will add the following symbols to reflect the new calculated wheat assessments:

AWHEA00APW Wheat CFR Indonesia $/mt

AWHEA03APW Wheat CFR Indonesia $/mt MAvg

AWHEB00CWRS 13.5% Wheat CFR Indonesia $/mt

AWHEB03CWRS 13.5% Wheat CFR Indonesia $/mt MAvg

AWHEC00EU 11.5% Wheat CFR Indonesia $/mt

AWHEC03EU 11.5% Wheat CFR Indonesia $/mt MAvg

The above calculated assessments will take into consideration the corresponding FOB assessments, added to a calculation of freight costs. They each represent 60,000 mt cargo sizes delivered to Cigading three-to-four months forward for CWRS and APW, and two-to-three months forward for EU.

There will also be nine new symbols created for the new freight calculations for the matrix, and the associated subscriber note is available here:

https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/102023-platts-proposes-to-launch-three-kmax-9-derived-panamax-dry-bulk-freight-assessments

Please send any feedback, questions, or comments on the proposed wheat CFR price matrix to MRTS_GrainsRiceOilseeds@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if the 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.