The markets are waiting for the willingness of importers to buy expensive grain
the Egyptian State operator GASC tender today plans to acquire the slightest 55-60 thousand tons of milling wheat for delivery within 5-August 15, 2017
GASC expects wheat supply from Canada, USA, Australia, Germany, France, UK, Romania, Bulgaria, Ukraine, Kazakhstan and Russia. Global traders must provide separate cost proposals for Maritime transport.
a Feature of today's tender is that it is held at the maximum level of prices the last 3 years for soft wheat in Chicago and 1 year for French wheat. Such actions are not peculiar to the Egyptians economical and can attest to the fact that there are fears of further increase in world prices.
in the absence of support from Chicago, where yesterday was a day off, MATIF was unable to continue the upward trend.
After rain, which took place last week as traders assess the prospects of the crop French wheat. Also all awaiting the outcome of the Algerian tender, which submitted offers in the range of 218 to 220 $/t C&F, although the Algerian operator OAIC plans to purchase grain at a maximum of 212 $/t C&F. the Cancellation of the tender will attest to the fact that importers are not willing to buy grain at such high prices.
- September quotes French milling wheat on MATIF remained at the level of 179,75 Euro/ton or 203,94 $/t