Egypt bought Russian wheat at a price lower than the previous auction

Traders are closely watching the Egyptian tenders, since they define the direction of price movements. After the Russian Agency IKAR has lowered the forecast of wheat harvest in Russia by 1.5 million tons to 78 million tons, the market expected a significant increase in the price of Russian wheat in the tender in Egypt.

yesterday, However, GASC has purchased the tender 230 thousand tons of Russian soft milling wheat supply 8-18 August at an average price of 205,21 $/ton FOB (corresponding to 218,8 $/t CFR), which is slightly lower than the purchase price at the previous auction on June 18, when it was purchased 240 thousand tons of black sea wheat at an average price of 206,72 $/t FOB or 218,4 $/t CFR.

in General, the tender was purchased such wheat:

the

60 kt in the company of Hakan at the price of 205.6 $/t FOB + freight rate of 13.2 $/t = 218,8 $/t C&F

60 kt in the company's Grain Export for the price of 205.6 $/t FOB + freight rate of 13.2 $/t = 218,8 $/t C&F.

• two batches at 55 THD. MT in the company GTCS for the price of 204.8 $/t FOB + freight rate of $14/t = 218,8 $/t C&F

Ukrainian wheat in a tender offer 207-208 $/t FOB, Romanian – 210 $/t FOB, French – at 218,86 $/t FOB.

In the first official report on harvest 2020 Ministry of agriculture of France has estimated the production of soft wheat from 31.31 million tonnes, which is 21% lower than in 2019 and is 12.4% below the average 5-year level. Although forecasts of independent analysts who recently lowered his estimates were more optimistic.

the

• After the promulgation of the new forecasts September futures milling wheat on MATIF rose by 2.25 €/t to 184,75 €/t or of 208.3 $/t

the Market is not disappointed by the fact that Egyptian tender offers of French wheat on FOB basis was 13.86 $/t more expensive than the best deals.

Quotations supported the results of the tender in Jordan, where the state Agency has purchased 60 thousand tons of wheat with protein 11% (presumably the production of black sea countries) with November delivery at a price of 236 $/t CFR.

Wheat exchange in the US yesterday was growing on the forecast of the reduction of wheat production in Russia and France.

the September wheat futures in the U.S.:

the

0.83 $/t to 161,95 $/t for solid winter HRW wheat in Kansas city

0.09 $/t to 188,49 $/t on a firm spring HRS wheat in Minneapolis.

• 0.74 $/t to 181,97 $/t for SRW soft winter-wheat in Chicago

December futures for black sea wheat grew by 0.45 to 211 $/t

In Ukraine, purchasing prices for milling wheat at the port rose to 183-185 $/t due to low wheat yields in the South of Odessa region.