The purchase price of wheat at the tender in Egypt increased by 1 14 / ton

Rising wheat prices on world stock exchanges, especially in the United States, increase the competitiveness of Black Sea wheat, which will be the world export leader this season. As a result, at yesterday's tender in Egypt, wheat supplies from Ukraine and Russia significantly rose in price, so GASC was forced to buy wheat for 1 14/ton more expensive than at the tender two weeks ago.

The number of proposals submitted for yesterday's tender sharply decreased compared to previous auctions, in particular Romanian wheat from 7 to 3, and Russian wheat – from 6 to 3, and prices rose sharply and averaged 2 250/ton FOB. The cheapest was Ukrainian wheat, because against the background of harvesting, producers increased sales even at low prices.

In total, the following proposals were submitted for the tender::

• 3 Romanian wheat at the price of F 247.86-F 254.86/ton FOB (++10.37-т 15.98/ton relative to previous trading),
• 3 Russian wheat at the price of F 250-259. 55/ton FOB (+11.45 - $13.63 / ton),
• 5 Ukrainian wheat at the price of F 244.5-F 252.0/ton FOB (+7.75 -. 10.6 / ton).

As a result, GASC purchased 180 thousand tons of the cheapest food wheat with 12.5% protein and delivery on September 20-30 at an average price of F 245.39/ton FOB or C 279.4/ton C&F, which is 1 13.5/ton FOB or C 14.08/ton C&F higher than the purchase price at the previous auction on July 14.

At the tender, the following items were purchased::

• 60 thousand tons of Ukrainian wheat from Nibulon at the price of F 244.5/t FOB + freight 3 34.5 / t = = 279 / T C & F,
• 60 thousand tons of Ukrainian wheat from Inerco at the price of F 244.8/t FOB + freight 3 34.5 / T = 2 279.3 / T C & F,
• 60 thousand tons of Romanian wheat from Viterra at the price of F 246.86/t FOB + freight 3 33.05/T = 2 279.91 / T C&F.

Recall that at previous tenders on May 24, GASC purchased 240 thousand tons of Romanian wheat, on June 28 – 180 thousand tons of Romanian wheat, on July 5 – 180 thousand tons of Romanian and 60 thousand tons of Russian wheat, on July 14 - 180 thousand tons of Romanian wheat.

The cost of freight for wheat supplies from the ports of Ukraine, Romania and Russia to Egypt has stabilized at 3 33-35/ton, which is twice as high as last year's rates.