NAMEX WHEAT INDEX

The latest value of the NAMEX Wheat Index:

Archive of NAMEX Wheat Index values

Methodology for NAMEX wheat CPT Novorossiysk index
 

Wheat Index calculation principles:

The NAMEX Wheat Index (the Index) is calculated by NAMEX (the Exchange) and tracks the price of a ton of wheat with the CPT Novorossiysk delivery basis, determined at the end of the trading session at the NAMEX commodity auctions.

The Index is calculated every business day.

The methodology and values of the Index are published on the Exchange website.

The following auctions are used to calculated the Index:
1. Before 09 January 2024: the auctions for the purchase of the commodity "4 Class Wheat, protein 12.5%" held on a daily basis on the NAMEX commodity auction market, where OZK Trading LLC was the customer.
2. From 09 January 2024:

• Auctions for the purchase of the commodity "4 Class Wheat, protein 12.5%" held on a daily basis on the NAMEX commodity auction market, with OZK Trading LLC acting as the auction client;
• Auctions for the purchase of the commodity "4 Class Wheat, protein 12.5%" held on a daily basis on the NAMEX commodity auction market, with "Client One" LLC acting as the auction client;

To calculate the Index, only contracts executed at the end of the Exchange commodity auctions included in the Index, that meet the following criteria:

• The contract provides CPT Novorossiysk delivery and delivery to one of the following terminals: Novorossyisk Grain Plant, Novorossyisk Grain Terminal, Grain Terminal KSK
• The delivery period according to the contracts does not exceed 45 days.

The Index is calculated using only contracts concluded as a result of commodity auctions, where at least 20 (twenty) Trading Members were admitted to the auction and at least 2 (two) Trading Members participated (submitted bids).

The total volume of contracts determined in accordance with the paragraph above shall not be less than five hundred (500) tonnes* across all auctions held on the day the Index is calculated.
*Effective from 28 April 2025 Previous version: The Index shall include only contracts executed at auctions resulting in total volume of at least 500 (five hundred) tons on the Index calculation date, and having at least 2 (two) trading members participating (submitting bids) with at least 20 (twenty) trading members admitted to the auction.

Prices of the contracts included in the Index are used exclusive of VAT.

The Index is calculated as the weighted average price of contracts that meet the above conditions.

Index values are determined per ton of grain and rounded to the nearest Russian rouble according to the rules of mathematical rounding.

If the Index value cannot be determined in the manner prescribed by the Methodology, the Index value shall be deemed to be not determined.

For questions regarding the Index, please contact us at namex@namex.org.

Regulation on Recalculation of NAMEX Indices