What is the Platts CIF New Orleans Corn Price Assessment?
Platts began assessing CIF New Orleans corn in 2016. The assessments represent CIF basis New Orleans barges for US Yellow Number 2 corn as specified by the US Federal Grain Inspection Service.
The volume reflects a typical barge of 52,500 bushels (1,500 short tons) and is published in both bushels for domestic US market participants and metric tons for export market participants.
The assessment captures US corn delivered at export terminals in New Orleans. The corn is then run through the grain facilities before being loaded on seagoing vessels for export out of the US.
Platts also publishes the assessed values as differentials to the CBOT corn futures settles, often referred to as the "basis", the corresponding futures contract month letter code also appears next to the basis value.
Platts assessments are based on robust and transparent market data that includes, but is not limited, to firm bids and offers, expressions of interest to trade and confirmed trades reported across the trading day.