SUBSCRIBER NOTE: Consultation on methodology for global wheat – Final Decision

Following market consultation, Fastmarkets Agriculture will make the following material changes to its methodology for global wheat with effect from January 1, 2023:

• To change the volume considered for France, Poland and Baltic wheat assessments to 30,000-60,000 mt from 25,000-40,000 mt, in keeping with changes made to Wheat FOB Germany earlier this year;
• To change the timestamp for all European wheat assessments (France, Poland, Baltics, Germany, Black Sea CVB) to 1600 London time from 1600 Kyiv time;
• To add Gdynia to the location for Wheat FOB Poland;
• To change the timestamp for Ukraine, Russia and Azov-Marmara wheat assessments to 1600 Kyiv time from 1600 London time;
• To adjust the protein content specification for Argentina wheat to 11.5% from the current 12% to better reflect the bulk of trade in the market.
• Fastmarkets Agriculture consulted with the industry on these changes from November 19 to December 9, 2022. No objections were received.

For more information on this consultation please email pricing.ags@fastmarkets.com. Please add the respective subject heading “Global Wheat 2022.”

You can find the current methodology for global wheat here.