The purchase price of wheat in tenders increased significantly

amid rising global wheat prices, the majority of importing countries have conducted a tender for procurement as the probability of falling prices too low. Despite the considerable world stocks and production of wheat in the current season wheat quotes are rising due to containment of sales of the Russian manufacturers.

Turkish news Agency TMO after the purchase for the tender of 190 thousand tons of soft wheat purchased another of 127.5 thousand tons of solid European wheat (mainly from Glencore) with delivery 29 Nov – 17 Dec at an average price of 342,53 $/t CIF, which is 39.6 $/t higher than the purchase price at the previous auction on 1 October.

the Algerian operator OAIC purchased in the tender 565 thousand tonnes of soft milling European (mostly French) of wheat with protein 11.5% and November delivery at an average price of 228,84 $/t CFR, by $17/t higher than the purchase price at the previous auction on September 18, when it was acquired 600 thousand tons of wheat at a price of 211,5 $/t CFR. Lecureur, the company will deliver 150 thousand tons of wheat, Soufflet – 145 thousand tons, Glencore – 90 thousand tons, Cargill, Cofco and CAM Negoce – 60 thousand tons of French wheat in the tender offered for 209 $/t FOB Rouen, where the cost of freight to Algeria is 17-18 $/t

Tunisian Agency ODC purchased on the tender of 75 thousand tons of milling wheat with protein 11.5% and delivery within November 25 – December 15 at a price 228,55 $/t, which by 7.56 $/t exceeds the price of the last trading on 11 October. Winners of Viking and Casillo, whose proposal was the cheapest of the 11 submitted bids.

the Taiwan Association of flour millers (FMA) will hold a tender for the purchase of 90 thousand tons of milling wheat produced in the USA with delivery in December-January, which will show the level of prices for American wheat.

Iran plans to 2019/20 Mr to import 4-6 million tons of wheat to compensate for crop losses from the weather, - said the Chairman of the chamber of Commerce of Iran and Switzerland at the meeting of the Russian Grain Council. Delivery will probably be carried out in the framework of agreements previously signed with Russia and Kazakhstan, to download the Iranian refining capacity that is unloaded. In addition, Iran plans to import 7 MMT of corn and 3 MMT of barley, although these volumes may be reduced due to the complexity of the calculation of the US sanctions since the Iranian companies usually work through financial intermediaries in Oman, China, India, Turkey, Russia and Switzerland.