In 2024, National Mercantile Exchange (NAMEX) will expand the basis for calculating the NAMEX Wheat CPT Novorossiysk Index amid growing trading volumes of the on-exchange wheat auctions.

The NAMEX Wheat Index will be based on trading results from auctions held by the two largest exporting companies, OZK Trading (OZK Group) and Demetra Trading (Demetra Holding Group), making the price benchmark more representative. Currently, the index covers only auctions by OZK Trading.

The decision to expand the Wheat Index was made in accordance with the recommendations of the Expert Council on Agricultural Product Market Indices.

In accordance with the NAMEX Wheat CPT Novorossiysk Index, the following list of wheat auctions included in the index has been established as of 9 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 as the customer; and
• 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 Demetra Trading LLC as the customer;

NAMEX has been calculating the Wheat Index since May 2022. The Index tracks the price of a ton of wheat with CPT Novorossiysk delivery basis, determined at the end of the trading session at the NAMEX commodity auctions.