Mintec proposes to launch Mintec Benchmark Prices for milling wheat delivered to Turkey

All Market Notes 11 August 2023

Mintec is proposing to launch two weekly Mintec Benchmark Prices (MBP) for Russian origin milling wheat 11.5% and 12.5% protein to Turkey (Cost, Insurance and Freight basis) and is collecting feedback from market participants in the grains markets until Friday, 25th August 2023. If the industry supports this proposal, Mintec suggests launching this assessment on Friday, 15th September 2023.

The proposed specifications for these assessments would be as below:

The proposed assessments would reflect the transactable value at 16:00:00 London time.

Turkey is a major wheat importer and demand from the nation is a major determinant for price levels on the global markets. The proposed assessments would give Mintec subscribers an insight into how Turkish pricing impacts the global wheat markets and allow for monitoring of price evolution within this important importer.

Please send any questions or comments about this market note to Methodology@mintecglobal.com, by Friday, 25th August 2023 and clearly state which market note your comments relate to, and if comments are intended for publication by Mintec.

Mintec will acknowledge receipt of all comments by email.