The Egypt’s state grain buyer, the General Authority for Supply Commodities (GASC) bought 120 KMT of French and Romanian wheat on Wednesday, Sept 3, marking its first French wheat purchase in nearly eight months.

GASC bought wheat for shipment October 1-10: 

  • 60 KMT of of Romanian wheat from Bunge at 259.88 $/t c&f (247.24 $/t fob and 12.64 $/t freight from National Navigation)
  • 60 KMT of French wheat from Granit at 257.9 $/t c&f (240.4 $/t fob and 17.5 $/t freight from Mina Shipping)

GASC has bought 1.185 MMT (600 KMT from Romania, 470 KMT from Russia, 60 KMT from France and 55 KMT from Ukraine) of wheat on the international market since July 1, the start of the 2014/15.

Egypt purchased 5.46 million tonnes of wheat from abroad in the 2013/14 fiscal year in addition to 3.7 MMT of local wheat

OFFERS ($/t, fob)

  • Bunge: 60 KMT Romanian wheat at $247.24, 60 KMT French wheat at $248.01
  • Cargill: 60 KMT Russian wheat at $252, 60 KMT French wheat at $245.5
  • Louis Dreyfus: 60 KMT Russian wheat at $256
  • Granit: 60 KMT French wheat at $240.40
  • Glencore: 55 KMT Russian wheat at $253.28, 60 KMT French wheat at $247.48
  • Soufflet: 60 KMT French wheat at $245.94
  • Nidera: 60 KMT Russian wheat at $256.24
  • Noble: 60 KMT Russian wheat at $251.95
  • Vitol: 60 KMT Russian wheat at $257
  • Venus: 60 KMT Russian wheat at $252.50

FREIGHT

Romania

  • National Navigation: $12.64
  • Mina Shipping: $11.54

French

  • Mina: $17.50 and $17.70

Russia

  • National Navigation: $12.60
  • Mina Shipping: $11.75, $11.90 for 60,000 MT cargo and $12.25 for 55,000 MT cargo
  • Glencore: $16.43 for 55,000 MT (for own cargo)