The Egypt's state grain buyer, the General Authority for Supply Commodities (GASC) on Friday, February 17, bought 360,000 MT of wheat from Russia (240 TMT), Romania (60 TMT) and Ukraine (60 TMT) for March 16-26 delivery:

  • 60,000 MT of Russian wheat from AOS at 204.85 $/mt c&f (195 $/mt fob+9.85 $/mt freight);
  • 60,000 MT of Russian wheat from Daewoo at 205.85 $/mt c&f (196 $/mt fob+9.85 $/mt freight);
  • 60,000 MT of Russian wheat from Grainbow at 207.60 $/mt c&f (196 $/mt fob+11.6 $/mt freight);
  • 60,000 MT of Ukrainian wheat from Louis Dreyfus at 208.10 $/mt c&f (195.5 $/mt fob+12.6 $/mt freight);
  • 60,000 MT of Romanian wheat from Nidera at 208.35 $/mt c&f (197.5 $/mt fob+10.85 $/mt freight);
  • 60,000 MT of Russian wheat from Aston at 208.60 $/mt c&f (197 $/mt fob+11.6 $/mt freight)

It was the 23-th international tender since the start of the new fiscal year. GASC has bought 4.24 MMT (3.04 MMT from Russia, 840 TMT from Romania, 240 TMT from Ukraine and 120 TMT from Argentina) 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):

  • AOS: 60,000 MT of Russian wheat at 195 $/mt fob
  • Daewoo: 60,000 MT of Russian wheat at 196.25 $/mt fob
  • Louis Dreyfus: 60,000 MT of Ukraine wheat at 196.54 $/mt fob
  • Nidera: 60,000 MT of Romanian wheat at 197.98 $/mt fob
  • Grainbow: 60,000 MT of Russian wheat at 199 $/mt fob
  • Aston: 60,000 MT of Russian wheat at 200.77 $/mt fob
  • Cargill: 60,000 MT of French wheat at 201 $/mt fob
  • Olam: 60,000 MT of Russian wheat at 205 $/mt fob
  • Cargill: 55,000 MT of U.S. soft or hard wheat at 208 $/mt fob

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

  • AOS: 60,000 MT of Russian wheat at 195+9.85=204.85 $/mt c&f
  • Daewoo: 60,000 MT of Russian wheat at 196.25+9.85=206.10 $/mt c&f
  • Nidera: 60,000 MT of Romanian wheat at 197.98+10.90=208.88 $/mt c&f
  • Louis Dreyfus: 60,000 MT of Ukraine wheat at 196.54+12.80=209.34 $/mt c&f
  • Grainbow: 60,000 MT of Russian wheat at 199+11.75=210.75 $/mt c&f
  • Aston: 60,000 MT of Russian wheat at 200.77+11.75=212.52 $/mt c&f

FREIGHT

  • Russia, 60,000 MT Novorossiysk
    • NNC $11.75
    • UME $10.99
    • Bahari $10.65
    • Venus $9.85
  • Romania, 60,000 MT Constanta
    • NNC $10.90
    • UME $10.69
    • Bahari $10.21
    • Venus $9.70
  • Ukraine, 60,000 MT Odessa
    • NNC $12.80
    • UME $12.08
    • Bahari $12.32
    • Venus $12.15
  • France, 60,000 MT
    • 1 port
      • NNC $16.10
      • UME $14.12
      • Bahari $13.77
      • Venus $14.51
    • 2 ports
      • NNC $18.85
      • UME $16.62
      • Bahari $17.52
      • Venus $17.26
  • US Gulf, 1 port, 55,000 MT
    • Bahari $26.05
    • Venus $29.86