Egypt buys Argentine wheat
Traders were closely watching the results of the tender in Egypt, the applications for which did not exceed $199 USD/MT CIF Egypt.
As expected, participation in the tender was attended by Argentina, which confirmed the competitiveness of the grain, despite the high cost of freight. Like last year, the South American wheat will be supplied to the countries of the Mediterranean region.
company GASC To tender purchased 360 thousand tons of wheat for delivery in late January.
- 120 tons (2 party) Argentine wheat price 196,53 $/t and 197,15 $/MT CIF, respectively,
- 180 thousand tons of Russian wheat at a price of 196,64 $/t to 198,50 $/t CIF
- 60 thousand tons of Romanian wheat.
Increasing competition from Argentina eliminates the depreciation of the Euro against the dollar, which has supported prices on the markets of wheat of European origin. So within 2 days the prices on Euronext, and the CME remain stable.
Ukraine hryvnia prices for wheat are rising due to the devaluation of the national currency from 26 to 26.40 UAH/USD, and now account for delivery to port:
feed wheat 4500-4700 UAH/t