The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Thursday, May 28, bought 180,000 MT of Russian and 60,000 MT of Romanian wheat for July 1-10 delivery:

  • 60 TMT of Romanian wheat from Nidera at 199.2 $/t c&f (191.0 $/t fob + 8.2 $/t freight)
  • 120 (2x60) TMT of Russian wheat from Union Co. at 199.22 $/t c&f (190.72 $/t fob + 8.5 $/t freight)
  • 60 TMT of Russian wheat from Vitol at 199.5 $/t c&f (191.0 $/t fob + 8.5 $/t freight)

GASC has bought 4.815 MMT (2.04 MMT from France, 1.2 MMT from Romania, 1.065 MMT from Russia, 345 TMT from US and 165 TMT from Ukraine) of wheat on the international market since July 1, the start of the 2014/15.

Egypt purchased 5.46 MMT of wheat from abroad in the 2013/14 fiscal year in addition to 3.7 MMT of local wheat.

Apart from purchases on the international market, Egypt is also in the middle of its local wheat procurement season. The North African country has purchased more than 4.5 MMT of Egyptian wheat since mid-April from its farmers, surpassing a 3.7 MMT target.

After this latest tender, Egypt's strategic wheat reserves will last until Nov 20

OFFERS ($/t, fob)

  • Vitol: 60 TMT Russian at $191.38
  • Nidera: 60 TMT Romanian at $191.49, 55 TMT Russian at $196.95
  • Union Co.: 60 TMT Russian at $192.50, 60 TMT Russian at $193
  • Louis Dreyfus: 60 TMT Russian at $192.64
  • Bunge: 60 TMT Romanian at $193.69
  • Ameropa: 60 TMT Romanian at $197.88
  • ADM: 60 TMT Polish at $198.90
  • Soufflet: 60 TMT French at $198.94 from two ports
  • Aston: 60 TMT Russian at $198.98
  • Olam: 60 TMT Russian at $199.70
  • Glencore: 60 TMT Russian at $202
  • Cargill: 60 TMT Russian at $203

FREIGHT

Russia

  • National Navigation Company: $8.50
  • Mina Dubai: $8.80
  • Union Co: $7.50, $8.00
  • United: $8.28
  • Nidera: $8.85

Romania

  • National Navigation Company: $8.20
  • Embros: $8.40
  • Venus: $8.29
  • Nidera: $8.25

France

  • National Navigation Company: $13.10
  • Venus: $11.43
  • United: $12.45

Poland

  • Mina Egypt: $13.9