The price of wheat waiting for the results of the Egyptian tender
the Egyptian Agency GASC announced a September 19 tender for purchase a minimum of 55-60 thousand tons of soft milling wheat with delivery in the period 21-31 October.
GASC expects wheat supply from North and South America, EU, Australia, black sea region. International traders must separately provide cost proposals for Maritime transport.
In the previous tender 29.08.17 Egypt GASC bought 295 thousand tons of Russian and Ukrainian wheat.
Attention to new tender increases incomplete "poppy" the case for the parties of Romanian and French wheat, which is now engaged in the state office of public Prosecutor of Egypt. Moreover, the Egyptian government has no good solutions to this situation.
The results of the tender will be the indicator of the competitiveness of wheat from the US, the EU and the black sea.
Trading on the Paris Bourse yesterday took place under pressure from overbought market and uncertainty with exports at a rate lower than last year. While Egypt does not specify the standards for poppy in wheat, French grain there will not be delivered.
- December futures milling wheat on MATIF fell by 1.75 €/t to 161,5 €/t (192,66 $/t).
Following the European depreciates and U.S. wheat, as speculators left the arguments for raising prices.
Through active sales of the December quotes winter wheat in the U.S. declined:
- soft wheat SRW in Chicago by 2.02 $/t to 162,96 $/t,
- for hard wheat HRW in Kansas city by 1.38 $/t to 162,50 $/t
Hard spring wheat HRS in Minneapolis has risen in price for 0,28 $/t to 228,63 $/t