Egypt purchased in the tender only one party of Russian wheat

2019-07-18 12:07:07
Machine translation
Egypt purchased in the tender only one party of Russian wheat

At yesterday's tender, the Egyptian GASC bought only one shipment of Russian wheat, the price of which corresponded to the level of previous purchases. Other applications were rejected as their price was higher than in the previous session, while the background of the decline in world stock prices under pressure from improving weather in the US and Europe and active new harvest, GASC was hoping to buy wheat at a lower price.

 

Participation in the auction was attended:

the

eight batches of Russian wheat at a price of 201,4-204 $/t FOB,

two of the party of Romanian wheat at the price 202,88-203,67 $/t FOB,

  • three shipments of Ukrainian wheat at a price 198,5-201,5 $/t FOB,

that corresponds to the level 219-221,7 $/t CFR.

 

Despite the fact that Ukrainian wheat was the cheapest on a FOB basis, the best was the price of Russian wheat with delivery to the port of the recipient.

 

In the end, GASC bought 60 thousand tons of Russian wheat for delivery Aug 21-31 at a price 201,36 $/t FOB, with freight cost 14,16 $/t and the total price 215,54 $/t CFR, which corresponds to the purchase price of the previous auction when it was bought by Ukrainian and Romanian wheat.

 

Despite the decrease of stock exchange quotations of the prices for Russian wheat are growing as a result of lower crop forecasts and the containment of sales producers.

 

Since the beginning of the week the price of black sea wheat with protein of 12.5% increased by 1-2 $/t to 195-197 $/t FOB for August shipments and 198-199 $/t FOB for September. Prices for wheat with protein 11.5 per cent remained at the same level 187-191 $/MT FOB, while forage increased by 3-4 $/t to 185-187 $/t FOB.

 

Rise in price of black sea feed wheat reduces its competitiveness to European wheat prices, which remain at 182-183 $/t FOB.

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