Algeria has acquired on the tender more wheat than planned
Algerian State company OAIC that was planning to buy at the tender 15.11.16 400 thousand tons of wheat, were able to enter into agreements for the supply of 580 thousand tons.
the purchase Price totaled 201-205 $/t on the basis of C&F for delivery in January.
Traders believe that the grain will be shipped from USA, Germany and the Baltic States. Argentine wheat was not competitive. Moreover, traders believe that the quality of the wheat of the Argentine origin may not meet the strict requirements of Algeria.
Although the French grain was the main contender for victory in the tender, it is likely that Algeria will purchase another batch of wheat, as has happened on previous tenders.
on Wednesday, after a minor speculative gains yesterday, futures soft wheat in Chicago once again turned down. The investors have been speculative sales. Negative pressure was exercised by the markets of soybeans and corn.
the U.S. dollar strengthened to the highest in 14 years.
the cost of the December futures for U.S. wheat has declined:
- 0.74 $/tonne to 145,87 $/tones of soft wheat SRW in Chicago
- by 1.65 $/tonne to 148,26 $/tone for hard wheat HRW in Kansas city
However, rose by 1.38 $/tonne to 190,51 $/t hard spring wheat HRS in Minneapolis.