The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Wednesday, Dec 23, bought 120,000 MT of Argentine wheat for January 21-31 delivery:

  • 60,000 MT of Argentine wheat from Louis Dreyfus at 190.28 $/mt c&f (174.88 $/mt fob+15.40 $/mt freight)
  • 60,000 MT of Argentine wheat from Louis Dreyfus at 191.60 $/mt c&f (176.20 $/mt fob+15.40 $/mt freight)

It was the eighteenth tender since the start of the new fiscal year. GASC has bought 2.95 MMT (1.59 MMT from Russia, 400 TMT from Ukraine, 420 TMT from Romania, 360 TMT from France, 120 TMT from Argentina and 60 TMT from Poland) of wheat on the international market since July 1, the start of the 2015/16.

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

  • Louis Dreyfus: 60,000 MT of Argentine wheat at $174.88 a tonne
  • Louis Dreyfus: 60,000 MT of Argentine wheat at $176.90 a tonne
  • Lecureur: 60,000 MT of French wheat at $187.42 a tonne
  • Glencore: 60,000 MT of Argentine wheat at $188.40 a tonne
  • Soufflet: 60,000 MT of French wheat at $188.84 a tonne
  • Cargill: 55,000 MT of French wheat at $193 a tonne
  • Glencore: 55,000 MT of Russian wheat at $193 a tonne
  • Invivo: 60,000 MT of French wheat at $195.70 a tonne
  • Alegrow: 60,000 MT of Russian wheat at $196.66 a tonne
  • Glencore: 60,000 MT of Romanian wheat at $196.70 a tonne
  • Daewoo: 60,000 MT of Russian wheat at $197 a tonne
  • BTG: 55,000 MT of Russian wheat at $197.20
  • Cargill: 55,000 MT of Russian wheat at $197.50 a tonne
  • Nidera: 55,000 MT of Russian wheat at $197.97 a tonne
  • Ameropa: 60,000 MT of Romanian wheat at $198 a tonne
  • Noble: 60,000 MT of Russian wheat at $198.86 a tonne
  • Bunge: 60,000 MT of French wheat at $198.87 a tonne
  • Aston: 60,000 MT of Russian wheat at $200.85 a tonne
  • Venus: 55,000 MT of Ukraine wheat at $201.93 a tonne
  • Union Co.: 60,000 MT of Russian wheat at $203.34 a tonne
  • Union Co.: 60,000 MT of Russian wheat at $205.34 a tonne

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

  • Louis Dreyfus: 60,000 MT of Argentine wheat at $190.28
  • Louis Dreyfus: 60,000 MT of Argentine wheat at $192.30
  • Lecureur: 60,000 MT of French wheat at $196.12
  • Soufflet: 60,000 MT of French wheat at $197.57
  • Louis Dreyfus: 60,000 MT of French wheat at $200.10
  • Glencore: 55,000 MT of Russian wheat at $201
  • Glencore: 60,000 MT of French wheat at $201.20

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

  • France
    • National Navigation: $10.10
    • Mina Egypt: $8.73
    • Bahary: $8.70
  • Russia
    • National Navigation: $7.19 for 60,000 MT and $8 for 55,000 MT
    • United Marine: $7.94 for 55,000 MT
    • Mina Egypt: $7.16 for 60,000 MT
    • Bahary: $7.24 for 60,000 MT and $7.73 for 55,000 MT
  • Romania
    • National Navigation: $6.70
    • Mina Egypt: $7.03
    • Bahary: $6.73
  • Argentine
    • Mina Egypt: $15.83
    • Bahary: $15.40
    • Mina Cuba: $16.58