The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Wednesday, Nov 25, bought 120,000 MT of French 60,000 MT of Russian and 60,000 MT of Romanian wheat for December 21-31 delivery:

  • 60,000 MT of French wheat from Soufflet at 205.74 $/mt c&f (195.54 $/mt fob+10.20 $/mt freight)
  • 60,000 MT of French wheat from Invivo at 205.74 $/mt c&f (195.54 $/mt fob+10.20 $/mt freight)
  • 60,000 MT of Romanian wheat from Ameropa at 206.15 $/mt c&f (200.15 $/mt fob+6.00 $/mt freight)
  • 60,000 MT of Russian wheat from Alegrow at 206.15 $/mt c&f (198.85 $/mt fob+7.30 $/mt freight)

It was the seventeenth tender since the start of the new fiscal year. GASC has bought 2.83 MMT (1.59 MMT from Russia, 400 TMT from Ukraine, 420 TMT from Romania, 360 TMT from France and 60 TMT from Poland) of wheat on the international market since July 1, the start of the 2015/16.

Now Egypt has enough strategic wheat reserves to last until April 23, 2016.

Traders said the following offers were submitted to GASC in the first round of the tender (USD/MT, FOB):

  • Soufflet: 60,000 MT of French wheat at $195.54
  • Invivo: 60,000 MT of French wheat at $195.91
  • Glencore: 60,000 MT of French wheat at $197.37
  • Bunge: 60,000 MT French wheat at $197.69
  • Louis Dreyfus: 60,000 MT of French wheat at $197.84
  • Alegrow: 60,000 MT of Russian wheat at $198.95
  • Lecureur: 60,000 MT of French wheat at $199.75
  • Bunge: 55,000 MT of Russian wheat at $200.17
  • Ameropa: 60,000 MT of Romanian wheat at $200.88
  • Cargill: 60,000 MT of French wheat at $201
  • Union Co.: 60,000 MT of Russian wheat at $201.27
  • BTG: 55,000 MT of Russian wheat at $201.90
  • Aston: 60,000 MT of Russian wheat at $201.98
  • Nidera: 60,000 MT of Romanian wheat at $201.99
  • ADM:60,000 MT of Russian wheat at $202.90
  • Nidera: 55,000 MT of Russian wheat at $203.49
  • Glencore: 55,000 MT of Russian wheat at $203.60

Best offers on C&F basis was as follows (USD/MT, C&F):

  • Soufflet: 60,000 MT of French wheat at $205.74
  • Invivo: 60,000 MT of French wheat at $206.11
  • Alegrow: 60,000 MT of Russian wheat at $206.30
  • Ameropa: 60,000 MT of Romanian wheat at $206.88
  • Union Co.: 60,000 MT of Russian wheat at $207.50

Freight (ocean shipping) offers (USD/MT):

France

  • National Navigation: $10.20
  • United Marine: $9.72
  • Mina Egypt: $9.93

Russia

  • National Navigation: $7.35 for 60,000 MT cargo and $8.38 for 55,000 MT cargo
  • United Marine: $7.26 for 60,000 MT cargo and $7.76 for 55,000 MT cargo
  • Union Co. :$6.23 for own cargo

Romania

  • National Navigation: $6.99
  • Ameropa: $6.00