SUBSCRIBER NOTE: Open consultation on methodology for Germany Wheat - final decision

Fastmarkets Agriculture invited feedback from the industry on the pricing methodology for Wheat FOB Germany, via an open consultation process between April 8, 2022 and May 6, 2022. This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period.

Separately, following discussion with market participants, Fastmarkets would like to propose two material changes to the methodology:

1.      To change the volume considered to 30,000-60,000 mt from 25,000-40,000 mt;

2.      To change the payment terms to Cash Against Documents as opposed to irrevocable LC at sight.

These changes would take effect from September 1, 2022.

Please send responses in writing, preferably in electronic format, to the following address: pricing.ags@fastmarkets.com by June 25, 2022. Please add the respective subject heading "Germany Wheat 2022.” Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

This consultation, sought to ensure that our methodologies continue to reflect the physical market 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.