Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Germany/AustriaHeadline | physical_fob | — | USD/MT | 520–680 | Dec 2024 | — |
| Central Europe | physical_cif | — | USD/MT | 780–950 | Dec 2024 | — |
| Germany | physical_fob | — | USD/MT | 380–480 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical spelt trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Germany/Austria | — | |
| Central Europe | — | |
| Germany | — |
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