Expana to launch 6 US oilseeds EBP
August 18, 2025
Following a period of market feedback, Expana has decided to launch weekly Expana Benchmark Prices (EBP) for North American Soybeans and Soybean meal. The weekly assessment will be launched on Tuesday, September 2, 2025.
The initial proposal was announced in a market note published on Thursday, July 30, 2025, which can be viewed here.
The specifications for the assessment will 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 will 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 coverage will 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.
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