S&P Global Platts will launch a daily Australian Standard White (ASW) wheat FOB Australia assessment, effective October 1, 2019.
Platts currently assesses Australian Premium White (APW) wheat FOB Australia, and has decided to launch an ASW wheat assessment to reflect the substantial liquidity in the export market for Australian wheat with a lower protein content, and as importers closely track grade differentials prior to making purchasing decisions.
Platts first proposed this new assessment on July 30: http://plts.co/IhDc30pr1G4
QUALITY: The new ASW wheat assessment will reflect product meeting the Grain Trade Australia (GTA) standard for ASW1, which does not have a minimum protein level guarantee.
Following market feedback, the assessment will not, as was previously proposed, reflect a specified average protein level for new crop harvested in Western Australia for that particular crop year.
VOLUME AND LOCATION: The new assessment would reflect a 30,000-mt cargo loading from Kwinana, Western Australia.
TIMING: The new assessment will reflect the prevailing market value at 4:30 pm Singapore time (0830 GMT), of cargoes loading 60-90 days forward from the date of publication.
The new ASW wheat FOB Australia assessment, which will be published in US dollars/mt, will appear in the Platts Daily Grains publication, on Platts Agriculture Alert (PAA) page 2440, and in the Platts price database under the code WASWA00.
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