Tenders in Algeria and Egypt contribute to the rise in wheat prices
the Results of the latest tenders in the major countries-importers of wheat indicate that recorded in January the rise in prices has stopped.
Egyptian GASC bought 120 thousand tons of Russian wheat at a price of 208 $/t freight rate to 15.5 $/t from 22 March to 1 April. Compared with the previous auction on 4 February, the price on the basis of C&F rose 1.4 $/t up to 223, 5 $/t, while FOB remained almost unchanged.
the Algerian Agency OAIC to tender 20 Feb purchased 460 thousand MT of wheat mainly European production costs 222-226 $/t C&F. Recall that at the auction on January 25 was purchased 510 thousand tons of wheat at a price 219-220,5 $/t C&F, and tender 4 January – 555 thousand tons at the price of 209,25-213,75 $/t C&F.
the Tunis tender plans to buy 67 thousand tons of soft wheat and 50 thousand tons of feed barley optional origin for delivery March 10 – April 10.
Held in the countries of North Africa tenders added to market optimism, the greater the depreciation of the Euro, increasing the demand and prices of European grains.
- March delivery milling wheat on MATIF rose by 0.75 €/t to 161,25 €/t (198,64 $/t).
Chicago wheat futures fell for a third day in a row. While the main cause of falling steel rain, which took place in most regions of the winter wheat that will help to improve the condition of crops after the dry winter.
due to the cost of black sea wheat prices continue to rise for wheat in Ukraine. A week in the ports increased prices of 1-2 $/MT to the level:
protein 11.5 per cent 177-180 $/t or 5650-5800 UAH/t,
forage - 173-175 $/t or 5550-5650 UAH/t
- protein 12,5% - 180-183 $/t or 5700-5900 UAH/t,