Open consultation on methodology for Wheat fob Germany: pricing notice
Fastmarkets is inviting feedback from the industry on the pricing methodology for its Wheat fob Germany prices as part of its announced annual methodology review process.
This consultation, which is open until April 30, 2024 seeks to ensure that our methodologies continue to reflect the physical markets under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.
You can find the current methodology for Germany Wheat here https://www.fastmarkets.com/methodology/agriculture/.
As part of this consultation, following discussion with market participants, Fastmarkets Agriculture would specifically like to propose the following changes to the methodology:
To introduce two new price assessments for Wheat FOB Germany 11.5% both as a premium to Euronext milling wheat futures and as an outright price in dollars per tonne.
The specifications for the assessments would be as follows.
Wheat FOB Germany 11.5% $/mt
Quality: EU origin milling wheat, min protein 11.5%, max moisture 14%.
Quantity: 30,000-60,000 tonnes
Location: Hamburg, Rostock
Timing: Shipment is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the 16th of each month.
Unit: USD per tonne
Price type: Assessment
Publication: Daily, 16.00 Europe/London time
Wheat FOB Germany 11.5% premium €/mt
Quality: EU origin milling wheat, min protein 11.5%, max moisture 14%.
Quantity: 30,000-60,000 tonnes
Location: Hamburg, Rostock
Timing: Shipment is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the 16th of each month.
Unit: EUR per tonne
Price type: Assessment
Publication: Daily, 16.00 Europe/London time
Please send responses in writing, preferably in electronic format, to the following address: pricing.ags@fastmarkets.com. Please add the subject heading “Methodology Germany Wheat annual review, 2024.” Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.
Fastmarkets will publish the outcome of this methodology review by May 15, 2024, including a summary of the feedback - except those responses marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.
To see all Fastmarkets pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.