Final decision on open consultation on methodology for Germany Wheat: pricing notice
Fastmarkets invited feedback from the industry on the pricing methodology for Germany Wheat, via an open consultation process between April 4 and April 30, 2024. This consultation was done as part of our published annual methodology review process.
No feedback was received during the consultation period and therefore Fastmarkets will now implement the changes proposed as part of the consultation.
Specifically, Fastmarkets will introduce new assessments Wheat FOB Germany 11.5% both as a premium to Euronext milling wheat futures and as an outright price in dollars per tonne, to reflect the trend seen in the market toward lower protein contents.
The specifications for the assessments are as follows:
Wheat FOB Germany 11.5% $/mt
Quality: EU origin milling wheat. Min protein 11.5%. Max moisture 14%
Quantity: 30,000-60,000 tonnes
Location: Hamburg, Rostock
Timing: Shipment is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the 16th of each month
Unit: US dollars per tonne
Price type: Assessment
Publication: Daily, 4pm London time
Wheat FOB Germany 11.5% Premium €/mt
Quality: EU origin milling wheat. Min protein 11.5%. Max moisture 14%
Quantity: 30,000-60,000 tonnes
Location: Hamburg, Rostock
Timing: Shipment is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the 16th of each month
Unit: Euro per tonne
Price type: Assessment
Publication: Daily, 4pm London time
These prices will be available from July 1, 2024.
The open 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 at: https://www.fastmarkets.com/methodology/agriculture/.