Egypt bought wheat at $ 5 more expensive than the previous tender

Yesterday, the Egyptian Agency GASC bought at the next tender 180 thousand tonnes of soft milling wheat Russian and Romanian production supply 1-10 Feb 2019года.

GASC was forced to pay more than 5 $ / t more FOB than a week ago, because many companies did not put proposals for payment by Egypt and delivered in December.

the tender was submitted the same batch of wheat from Romania at the price of 241,26$/t FOB, six batches of Russian wheat at prices ranging from 242 to 248,86$/t FOB and one lot of U.S. HRW wheat, which was offered at a price 254.50$/t FOB, which is about $ 15 more expensive than the market prices.

as a result of the tender, GASC bought a batch of cheap grain from the proposed:

• 60 KMT of Romanian wheat from company ADM for price 241,26 $ / t FOB-Constanta at a rate of 15.11 ocean freight $ / t = 256,37 $ / t C & F
• 60 thousand tons of Russian wheat from ADM company at a price 242,0 $/t FOB Novorossiysk sea freight rates 16,35 $/t = 258,35 $/t C&F
• 60 thousand tons of Russian wheat at Agro Industrial company at a price 242,8 $/t FOB Novorossiysk sea freight rates 16,35 $/t = 259,15 $/t C&F

the Increase in purchase prices for wheat more than the$240/MT FOB allows you to increase the number of proposals of European and American wheat which can be supplied at that price, because as soon as Egypt confirms the possibility of guaranteed payments of the purchased quantities, the number of tenders increase, especially cheaper American wheat. .

the tender Results significantly supported the price quotations for wheat on world markets:

the March wheat quotations on the MATIF exchange in Paris rose €1.75 to 206,25 €/ton or 234,46 $/t

March quotes of the American wheat have risen:

• soft wheat SRW in Chicago by $2,02 to 193,45 $/ton
• hard wheat HRW in Kansas city for $2,39 to 187,85 $/ton
• hard wheat HRS in Minneapolis by $2.85 to 214,21 $/ton