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The Price of Argentinian Soybean Meal and Oil

  • What are the Argentinian Soybean Meal and Oil price assessments?
  • How do we assess the Argentinian Soybean Meal and Oil markets?
  • Why are these prices important?

What are the Argentinian Soybean Meal and Oil price assessments?

On September 3, 2019, S&P Global Platts launched 2 new price assessments for soybean oil and soybean meal exports out of Argentina, to bring greater transparency to an agriculture market that is growing in both size and global relevance:

— Soybean Oil Argentina FOB Up River
— Soybean Meal Argentina FOB Up River

They are daily price assessments in USD per metric ton and basis reflecting the prevailing value of the market at 5:30 pm São Paulo time.

How do we assess the Argentinian Soybean Meal and Oil markets?

S&P Global Platts assessments are based on robust and transparent market data that includes, but is not limited to, firm bids and offers, expressions of interest to trade and confirmed trades reported across the trading day.

– SOYBEAN OIL

The new Soybean Oil Argentina FOB Up River assessments reflect 1,000 mt parcels loading on an "Up River" basis in Argentina, and product meeting FOSFA 51 soybean oil specifications; other qualities may be normalized back to the reference specification.


Up River includes the San Lorenzo, Rosario and San Nicolas port areas on the Paraná River in Argentina. Bids, offers, and trades for other locations and volumes may be normalized back to the basic location and volume.


Platts publishes a differential price or basis (versus the relevant prevailing futures contract) in US cents/pound for soybean oil, and the flat price in US dollar/mt.


– SOYBEAN MEAL

The new Soybean Meal Argentina FOB Up River assessments reflect 40,000 mt cargoes, plus or minus 10% operational tolerance, loading on an Up River basis in Argentina. Bids, offers, and trades for other locations and volumes may be normalized back to the basic location and volume.


The assessments reflect Gafta 39 soybean meal specification, but with a typical protein level of 46.5%; other protein levels or specifications may be normalized back to the reference quality.


Platts publishes a differential price or basis (versus the relevant prevailing futures contract) in US dollar/short ton for soybean meal, as well as a flat price in US dollar/mt.


The new soybean oil and soybean meal assessments both reflect parcels loading one calendar month forward. These roll to the next calendar month on the first publication day after the 15th of each month.

Why are these prices important?

Argentina is currently the world's largest soybean oil and meal exporter, accounting for about 46% of global soybean oil exports and 44% of meal exports.

A robust and transparent physical price representing the specific dynamics of regional markets and which leads to physical indexation and financially settled derivative instruments is a powerful tool which helps customers and other market participants:

— Manage and hedge price risks
— Leverage arbitrage opportunities
— Carry out negotiations more profitably and efficiently
— Make better informed planning and trading decisions

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