The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Friday, June 12, bought 180,000 MT of Romanian, Russian wheat for July 11-20 delivery:

  • 60 TMT of Romanian wheat from Nidera at 200.76 $/t c&f (192.16 $/t fob + 8.6 $/t freight from National Navigation)
  • 60 TMT of Russian wheat from Aston at 200.97 $/t c&f (191.98 $/t fob + 8.99 $/t freight from National Navigation)
  • 60 TMT of Romanian wheat from Bunge at 200.45 $/t c&f (192.16 $/t fob + 8.29 $/t freight from Venus)

GASC has bought 5.055 MMT (2.04 MMT from France, 1.32 MMT from Romania, 1.185 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 buys local wheat. Egypt's supply ministry announced it will end its local wheat procurement season early as the country has already bought a record 5.275 MMT. The buying spree, which kicked off in mid-April, will end Monday versus an original end date in mid-July. The country's wheat procurement target was 5.3 MMT, which is well above last year's 3.7 MMT.

OFFERS ($/t, fob)

  • Bunge: 60 TMT Romanian at $193.21, 60 TMT French at $209.67
  • Cargill: 60 TMT Russian at $194.50
  • Venus: 55 TMT Ukrainian at $190.01
  • Olam: 60 TMT Russian at $203
  • Glencore: 55 TMT Russian at $197.30
  • Aston: 60 TMT Russian at $191.98
  • Nidera: 60 TMT Romanian at $192.66, 55 TMT Russian at $198
  • Union (Al Wehda): 60 TMT Russian at $195.80

FREIGHT

Romania

  • National Navigation: $8.99
  • Venus: $8.29
  • Mina Dubai: $8.68

Russia

  • National Navigation: $9.35
  • Aston: $8.75
  • Mina Dubai: $8.87
  • Union (al Wehda): $6.70
  • United Marine: $8.44 for 60 TMT and $9.01 for 55,000 tonnes
  • Nidera: $7

France

  • Venus: $11.64

Ukraine

  • National Navigation: $13.80