The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Thursday, July 28, bought 120,000 MT of wheat for September 1-10 delivery:

  • 60,000 MT of Russian wheat from ADM at 176.36 $/mt c&f (168.85 $/mt fob+7.51 $/mt freight);
  • 60,000 MT of Romanian wheat from ADM at 177.99 $/mt c&f (169.9 $/mt fob+8.09 $/mt freight)

It was the third international tender since the start of the new fiscal year. GASC has bought 600 TMT (300 TMT from Russia, 240 TMT from Romania and 60 TMT from Ukraine) of wheat on the international market since July 1, the start of the 2016/17.

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

  • Venus: 55,000 MT of Ukraine wheat at 165 $/mt fob
  • Midgulf: 60,00 MT of Russian wheat at 169.95 $/mt fob
  • ADM: 60,000 MT of Russian wheat at 168.85 $/mt fob and/or 60,000 MT of Romanian wheat at 169.90 $/mt fob
  • United: 60,000 MT of Russian wheat at 169.90 $/mt fob and/or 55,000 MT of Russian wheat at 169.92 $/mt fob
  • Nidera: 60,000 MT of Romanian wheat at 177.90 $/mt fob
  • Alegrow: 60,000 MT of Russian wheat at 171.34 $/mt fob
  • Ameropa: 60,000 MT of Romanian wheat 175.11 $/mt fob
  • Casillo: 60,000 MT of Romanian wheat at 173.69 $/mt fob
  • Daewoo: 60,000 MT Russian at 169.95 $/mt fob
  • Noble: 60,000 MT Russian at 174.7 $/mt fob

Best offers on C&F basis in the first round of the tender was as follows (USD/MT, C&F):

  • ADM: 60,000 MT of Russian wheat at 168.85+7.51=176.36 $/mt c&f
  • Venus: 55,000 MT of Ukraine wheat at 165+12.78=177.78 $/mt c&f
  • ADM: 60,000 MT Romanian at 169.90+8.15=178.05 $/mt c&f
  • United: 60,000 MT Russian at 169.90+8.78=178.68 $/mt c&f
  • Midgulf: 60,000 MT Russian at 169.95+8.78=178.73 $/mt c&f
  • Daewoo: 60,000 MT of Russian at 169.95+8.78=178.73 $/mt c&f