S&P Global Platts would like to clarify the unit of measurement for its Soybean Oil Argentina FOB Up River basis assessment, and correct the labeling where this assessment appears, with effect from November 27, 2019.
Since the assessment was launched September 3, 2019, it has reflected a value in points per pound, not US cents/lb as previously labeled. One US cent is equivalent to 100 points. Effective November 27, Platts has corrected the labeling of the following prices where they are published.
The affected assessments are:
Soybean Oil Argentina FOB Up River basis - SYOAB00
Soybean Oil Argentina FOB Up River basis MAvg - SYOAB03
The Soybean Oil Argentina FOB Up River daily basis assessment and monthly average are published on Platts Agriculture Alert pages PAA0808 and PAA0809 respectively, in the Platts Daily Grains report and in the Platts database under the corresponding codes above.
The numerical value of the above assessments are correct, and remain unchanged.
The Soybean Oil Argentina FOB Up River flat price assessment, and the related monthly average, have also been correctly published in US dollars/mt since the launch on September 3.
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