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This launch, which will reflect prices of soybeans loaded from ports in the US Pacific Northwest into China, is intended to add value to the current suite of soybean price assessments and contribute to overall market transparency.
The proposed specifications are as follows:
Soybean CFR China (Pacific Northwest) Premium c$/buQuality: Protein 34.5%. Max moisture 13.5%. As per the FGIS specifications for No 2 yellow soybeansQuantity: 66,000 tonnesIncoterm: CFRLocation: CFR China, Rizhao, Qingdao, Tianjin, DalianUnit & currency: cents/bushelPayment terms: Irrevocable LC at sightTiming: 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 $/mtData window: 5pm Shanghai timePublication frequency: Daily
Soybean CFR China (Pacific Northwest) $/mtQuality: Protein 34.5%. Max moisture 13.5%. As per the FGIS specifications for No 2 yellow soybeansQuantity: 66,000 tonnesIncoterm: CFRLocation: CFR China, Rizhao, Qingdao, Tianjin, DalianUnit & currency: $/mtPayment terms: Irrevocable LC at sightTiming: 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 $/mtData window: 5pm Shanghai timePublication frequency: Daily
The consultation period for this proposed launch starts on Tuesday June 23 and will end on Monday July 20. The launch will take place, subject to market feedback, on Friday July 24.
Please send any questions or comments by Monday July 20 to pricing@fastmarkets.com and grains_oilseeds@fastmarkets.com. Please add the subject heading “re: soybean CFR China (PNW).” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.