SINGAPORE and LONDON, July 31, 2018 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, announced that it has started publishing three daily soybean price assessments: SOYBEX CFR China, SOYBEX FOB Santos and SOYBEX FOB Paranagua.

Soybeans are an important agricultural commodity used for animal feed, packaged meals and as a meat and dairy substitute. Soybean oil from crushing soybeans is also a key feedstock for biodiesel production. China is the world's largest importer of soybeans while Brazil is on the verge of overtaking the US as the world's largest producer.

Ian Dudden, global content director for agriculture and metals, S&P Global Platts said: "The increase in international trade flows for soybeans has created both arbitrage opportunities and new risks for soybeans traders which require greater pricing transparency that better reflect changing market dynamics. Our robust and transparent price assessment methodology draws on over 100 years' experience in the commodities markets. Our price assessors rely on our strong agricultural market network as well as a global network of offices, including China and Brazil, and a multi-lingual work force to offer increased transparency and essential intelligence to this market."

• The daily price assessment SOYBEX CFR China reflects the value of soybeans on a delivered basis into ports in North China.
• The daily price assessments SOYBEX FOB Santos and SOYBEX FOB Paranagua reflect the value of soybeans on a Free on Board basis in those Brazilian ports.  
• The assessments will be published daily on a cent per bushel basis over the CBOT soybean futures contracts as well as a USD per metric ton flat price assessment.
• The standard specification reflects Brazil origin soybean specification with oil content of 18.5% and a standard protein level of 34.5%, while other qualities may be considered but would be normalized back to the reference quality.

Platts agricultural price assessments are built on the Platts Market-on-Close (MOC) methodology, a highly-transparent price assessment process based on the principle that price is a function of time. The MOC process in agriculture identifies bids, offers, tradable values and confirmed trades by collecting a wide variety of transactional and market information through a survey of industry participants, which typically includes communicating with sources via phone, email, and instant messaging.  More information on Platts oilseeds methodology can be found here.

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SOURCE S&P Global Platts