Platts APW Wheat FOB Australia reflects the spot physical price for Australian wheat exports.
This price assessment represents the daily tradable value of Australian Premium White (APW) wheat, with a minimum of 10.5% protein (on an 11% moisture basis), a maximum of 12.5% total moisture, a minimum falling number of 300 seconds and a typical flour wet gluten of 24.5%.
Other grades of milling wheat are normalized to APW, making Platts APW wheat assessment a suitable proxy for the whole sector.
Platts APW Wheat FOB Australia predominently reflects export spot transactions from Western and Southern Australia. Exports from other Australian locations may still be monitored for pricing consistency. Also it encompasses trade data from across Asia and the Middle East, with transactions agreed on a CFR basis normalized back to FOB using prevailing spot freight rates.
The assessment's volume, location, and timing, reflect typical Australian wheat exports, normalized to 30,000 mt loading in Kwinana, Western Australia, in 60-90 days. It is assessed in US dollars per metric ton at a daily timestamp of 1630 Singapore time.
The assessment expands and complements Platts' existing suite of wheat assessments in the Black Sea and Europe.
Platts began assessing Australian wheat export prices on November 9, 2015. We survey Australia and its destination markets market daily to capture seaborne milling wheat trades, bids and offers on a FOB Australia or CFR basis.
Data is normalized to reflect the tradeable value of the commodity on a given day, for typical order quantities, commodity specifications and standard timing and payment terms.
The survey is extensive and encompasses market participants in a very broad geographical area, including Australia, Southeast and Northern Asia, the Indian subcontinent and the Middle East, and will focus on active physical sellers and buyers of milling wheat, primarily trading firms, flour millers and government purchasing units.
The Platts APW Wheat FOB Australia assessment is alongside other global grains prices available in the following Platts services.
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