The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Tuesday, August 2, bought 60,000 MT of wheat for September 11-20 delivery:

60,000 MT of Russian wheat from Midgulf at 177.09 $/mt c&f (168.9 $/mt fob+8.19 $/mt freight from NNC)

It was the fourth international tender since the start of the new fiscal year. GASC has bought 660 TMT (360 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 Ukrainian wheat at 167.60 $/mt fob
  • Midgulf: 60,00 MT of Russian wheat at 168.95 $/mt fob
  • Union Co.: 60,000 MT of Russian wheat at 168.96 $/mt fob
  • Union Co.: 60,000 MT of Russian wheat at 169.97 $/mt fob
  • ADM: 60,00 MT of Russian wheat at 171.85 $/mt fob
  • Daewoo: 60,000 MT of Russian wheat at 171.85 $/mt fob
  • Alegrow: 60,000 MT of Russian wheat at 172.45 $/mt fob
  • ADM: 60,000 MT of Romanian wheat at 174.50 $/mt fob
  • Ameropa: 60,000 MT of Romanian wheat 174.55 $/mt fob
  • Nidera: 55,000 MT of Russian wheat at 175.50 $/mt fob
  • Olam: 60,000 MT of Russian wheat at 176.80 $/mt fob
  • Nidera: 60,000 MT of Romanian wheat at 177.90 $/mt fob

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

  • Midgulf: 60,00 MT of Russian wheat at 168.95+8.24=177.19 $/mt c&f
  • Union Co.: 60,000 MT of Russian wheat at 168.96+8.24=177.20 $/mt c&f
  • Union Co.: 60,000 MT of Russian wheat at 169.97+8.24=178.21 $/mt c&f
  • Venus: 55,000 MT of Ukrainian wheat at 167.60+11.37=178.97 $/mt c&f
  • ADM: 60,00 MT of Russian wheat at 171.85+8.24=180.09 $/mt c&f
  • Daewoo: 60,000 MT of Russian wheat at 171.85+8.24=180.09 $/mt c&f