Expana proposes to launch 6 North American oilseeds EBP
July 30, 2025
Expana is proposing to launch 6 Expana Benchmark Prices (EBP) for soybeans and soybean meal and is collecting feedback from market participants until Wednesday, August 13, 2025.
If the industry supports this proposal, Expana suggests launching the weekly assessments on Tuesday, September 2, 2025.
The proposed specifications for the assessment would be as below:
| Assessment Name | Proposed Code | Quality | Incoterm | Frequency | Quantity | Currency | Unit | Publication Schedule |
| Soybeans No 1 second month fob US gulf EBP | JA31 | US Federal Grain Inspection Service grade 1; 34.5% protein; 13.5% moisture; 2% impurities, quantity: 66,000mt, second month, FOB; Gulf Coast United States, Expana Benchmark Prices (EBP) | FOB | Weekly | 66,000 | $ | mt | Americas, Weekly, Tuesday 16:00 US ET |
| Soybeans No 1 basis spot fob US gulf EBP | JA32 | US Federal Grain Inspection Service grade 1; 34.5% protein; 13.5% moisture; 2% impurities, quantity: 66,000mt, basis spot, FOB; Gulf Coast United States, Expana Benchmark Prices (EBP) | FOB | Weekly | 66,000 | ¢ | bu/60 | Americas, Weekly, Tuesday 16:00 US ET |
| Soybeans No 1 basis second month fob US gulf EBP | JA33 | US Federal Grain Inspection Service grade 1; 34.5% protein; 13.5% moisture; 2% impurities, quantity: 66,000mt, basis second month, FOB; Gulf Coast United States, Expana Benchmark Prices (EBP) | FOB | Weekly | 66,000 | ¢ | bu/60 | Americas, Weekly, Tuesday 16:00 US ET |
| Soybean meal 48% protein second month fob US gulf EBP | JA34 | minimum 48% protein; maximum 13% moisture, quantity: 20,000-40,000mt, second month, free on board; Gulf Coast; United States, Expana Benchmark Prices (EBP) | FOB | Weekly | 20,000-40,000 | $ | mt | Americas, Weekly, Tuesday 16:00 US ET |
| Soybean meal 48% protein basis spot fob US gulf EBP | JA35 | minimum 48% protein; maximum 13% moisture, quantity: 20,000-40,000mt, basis spot, free on board; Gulf Coast; United States, Expana Benchmark Prices (EBP) | FOB | Weekly | 20,000-40,000 | $ | short ton | Americas, Weekly, Tuesday 16:00 US ET |
| Soybean meal 48% protein basis second month fob US gulf EBP | JA36 | minimum 48% protein; maximum 13% moisture, quantity: 20,000-40,000mt, basis second month, free on board; Gulf Coast; United States, Expana Benchmark Prices (EBP) | FOB | Weekly | 20,000-40,000 | $ | short ton | Americas, Weekly, Tuesday 16:00 US ET |
The assessment would reflect the transactable value at 16:00:00 US Eastern Time.
The US is the second largest producer and second largest exporter of soybeans in the world. It produces 28% of world soybean production and 26% of world soybean exports. US soybean exports were worth $24.58 billion in 2024. US soybean meal exports were worth $6.41 billion in 2024.
Around half of all US oilseed exports come from the US Gulf region. Due to the significant trade flows from this region, it has an outsized impact on US oilseed pricing and also impacts world oilseed prices. The proposed coverage would thus shed transparency on some $50 billion worth of grains and oilseeds trade annually in one of the world’s key export regions, complementing Expana’s existing coverage of the North American oilseeds markets.
If you have any feedback or suggestions on this proposal, please send this to [email protected] by Wednesday, August 13, 2025, clearly state which market note your comments relate to, and if comments are intended for publication by Expana.
Expana will acknowledge receipt of all comments by email.