Platts launches new daily CIF New Orleans corn assessments that will reflect the key US corn export market on April 4, 2016.
The assessments will represent CIF basis New Orleans barges for US Yellow Number 2 corn as specified by the US Federal Grain Inspection Service. The volume will reflect a typical barge volume 52,500 bushels (1,500 st) and will be published in both bushels for domestic US market participants and metric tons for export market participants. Platts will also publish the assessed values as differentials to the CBOT corn futures settles.
Platts will assess material being delivered on an any-month basis for the current month and front month from the date of publication. The assessments will roll to the next month the earlier of seven calendar days or five working days before the end of the month. For example, on March 23, Platts would assess corn for delivery over March and April, while on March 24, seven calendar days before March 31, Platts would assess corn for delivery over April and May.
The assessment will be published on the Platts Daily Grains report and through the Platts Agriculture Alert real-time service.
As per Platts methodology, the assessment will be made using transactional information collected daily, including trading activity, bids and offers. In the absence of representative CIF New Orleans price information, Platts may also refer to prices in relevant river destinations using prevailing spot freight rates.
Data Sources: Platts | Effective Date: April 04, 2016