Wheat Highlights June 15, 2015 June 15, 2015
- June 16 - Syria seeks 150,000 MT of milling wheat, with payment offered using a credit line from Iran
- Russian wheat was offered lowest at 231.0 $/mt c&f free out in the Iraq's tender to buy at least 50,000 MT of hard wheat for Sept-Oct delivery. The tender closed on Sunday, June 14, and offers must remain valid up to June 18. The lowest offer for Russian wheat was made for 50,000 MT. Russian wheat was also offered at 233.0 and 236.5 $/mt c&f free out. One offer for US wheat was made at 285.42 $/mt c&f free out, the lowest offer for Australian origin – 267.5 $/mt c&f free out and the lowest from Canada – 266.0 $/mt c&f free out
- June 12 - Tunisia bought 92,000 MT of soft wheat at 195.49-199.49 $/mt c&f and 59,000 MT of durum wheat at 369.50-373.29 $/mt c&f for July-September shipment
- June 12 - Egypt's GASC 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
After this latest tender, Egypt's strategic wheat stock is sufficient until early January of 2016
- Argentina has authorized an additional 1 MMT in 2014/15 wheat exports, bringing the season's approved export quota to about 4.7 MMT
- Russia's Ag Min said Russia exported about 29.415 MMT of grain between July 1 – June 10, 2014/15 vs. 24.983 MMT a year ago, including wheat – 20.869 MMT, barley – 5.217 MMT, corn – 2.86 MMT
- Kazakhstan's grain stocks as of June 1, 2015 accounted 7.515 MMT, including 5.431 MMT of milling wheat
- Buenos Aires Grains Exchange says Argentine wheat planting is 22.1% done versus 20.1% a year ago