Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Chicago Board of TradeHeadline | futures | — | USD/MT | 220–280 | Jan 2025 | — |
| Black Sea ports | physical_fob | — | USD/MT | 280–340 | Jan 2025 | — |
| Indian ports | physical_fob | — | USD/MT | 260–320 | Jan 2025 | — |
Premium structure
Differentials between benchmarks reveal where physical flour trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Chicago Board of Trade | — | |
| Black Sea ports | — | |
| Indian ports | — |
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