The price of wheat in the Egyptian tender had declined marginally

2019-11-06 12:22:08
Machine translation
The price of wheat in the Egyptian tender had declined marginally

Egypt is the world's leading wheat importer, annually buying about 12.5 million tons of grain. Most of this amount buys a state operator GASC, so traders are closely watching the tenders that it conducts.


the results of the October tenders have become the main driver of growth in prices for black sea wheat, and the yesterday's session confirmed that the price of Russian wheat is too high.


To tender a week ago, prices for French wheat grew by only 4,25 $/t, while Russian – just by 8.75-19,5 $/t, what was the reason for the refusal of its purchases. Then GASC bought French and Ukrainian wheat at an average price of 218,06 $/t FOB or 235,51 $/t CFR.


In yesterday's auction, the bid prices of French wheat on the basis of FOB remained unchanged, while Ukrainian wheat fell by $1/t on one game and up 7 $/t on the other, Romanian rose 2 $/t, Russian – fell 1.3-3 $/t the two parties and has grown by 0.75-5,61 $/t on the other.


In the end, GASC bought 175 TMT of wheat protein 12.5% and delivery 15-25 December at an average price of 215,26 $/t FOB or 233,12 $/t CFR, which is to 2.39 $/t lower than a week ago.


the tender was purchased:

55 KMT of Russian wheat from ADM company at a price of 218 $/t FOB + 16,6 $/t freight = 234,6 $/t CFR.

  • 120 KMT of French wheat from Glencore at a price 214 $/t FOB + 18,44 $/t freight = 232,44 $/t CFR,


a Decline in prices of Russian wheat, compared with the previous tender will continue this week due to low demand amid high prices.

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