On August 22, 2016, Platts introduced the Corn CFR South Korea assessment (Platts code: WCINV00. The daily assessment reflects the daily traded or tradable value of imported corn at 1630 Singapore time (0830 GMT) for cargoes loading 90-120 days from publication date. Quality specifications will be normalized to standard US corn grade no. 3 or equivalent grades, volume will be normalized to 60,000-65,000 mt, and credit terms will be normalized to LC at sight.
Cargoes will be assessed using Pyongtaek as the first port of discharge.
As per Platts’ methodology, the assessment will be made using transactional information collected daily, including transactions, bids and offers. In the absence of representative CFR South Korea price information, Platts may also refer to CFR Northeast Asian or FOB prices from relevant supply origins using prevailing spot freight rates.
Data Sources: Platts | Effective Date: August 22, 2016