The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Thursday, June 11, bought 60,000 MT of Russian wheat for July 11-20 delivery:

  • 60 TMT of Russian wheat from Louis Dreyfus at 199.49 $/t c&f (190.5 $/t fob + 8.99 $/t freight from National Navigation)

GASC has bought 4.875 MMT (2.04 MMT from France, 1.2 MMT from Romania, 1.125 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 5 MMT of Egyptian wheat since mid-April, surpassing a 3.7 MMT target and setting a new goal of 5,3 MMT by the end of the season.

After this latest tender, Egypt's strategic wheat reserves will last until December 22

OFFERS ($/t, fob)

  • Cargill: 60 TMT of Russian at $197.50
  • ADM: 60 TMT of Romanian at $200.45
  • Olam: 60 TMT of Russian at $203
  • Aston: 60 TMT of Russian at $194.98
  • Glencore: 55 TMT of Russian at $197.30
  • Union (Al Wehda): 60 TMT Russian at $199.25
  • Louis Dreyfus: 60 TMT of Russian at $190.50
  • Bunge: 60 TMT Romanian $193.67, 60 TMT French at $213.67, 60 TMT of U.S. soft red wheat at $227.67
  • Nidera: 60 TMT of Romanian wheat at $195.99, 55 TMT of Russian wheat at $201

FREIGHT

Russia

  • National Navigation: $8.99
  • Aston: $8.75
  • Mina Dubai: $8.90
  • Union: $6.75
  • United Marine: $8.98
  • Nidera: $7
  • Glencore: $9.25

Romania

  • National Navigation: $8.60
  • Venus: $8.32
  • Mina Dubai: $8.70

France

  • National Navigation: $13.40
  • Venus: $11.67

U.S. Gulf

  • Venus: $26.17