The purchase price of the Egyptian tender was almost unchanged
At yesterday's tender, the Egyptian GASC bought 415 thousand MT of wheat with a protein 12.5% of the Romanian, Ukrainian and Russian production with delivery in the period 5-15 September. The purchase price remained almost the same as at the auction two weeks ago, when it was purchased 300 tons of wheat.
the most Cheap Ukrainian wheat, which was offered at 198,7-200,17 $/t FOB, which corresponds to 217,34-219,67 $/t CFR, the most expensive Russian proposed by 203,9-204,22 $/t FOB or 217,37-220,52 $/t CFR .
the tender was purchased the following wheat:
60 KMT of Ukrainian wheat from Louis Dreyfus at the price of 217,27 $/t CFR,
60 KMT of Romanian wheat from company ADM for price 219,42 $/t CFR,
180 thousand tons of Russian wheat at the company Garant Logistik, Solaris, and Posco Daewoo at a price of 220,05 $/t CFR,
60 thousand tons of Russian wheat at the company Hakan at a price 217,37 $/t CFR.
- 55 thousand tons of Ukrainian wheat at the company Hakan at a price 219,35 $/t CFR,
the Purchase price of the tog slightly decreased due to decrease in freight rates. The increase in purchases, in particular of Russian wheat, suggests that market has already determined the acceptable price levels that you are willing to work with buyers and sellers.
the Tactics of the sellers of Russian wheat, which inhibited the sale, than to keep prices on the level 196-200 $/t FOB, justified, and buyers were forced to accept the price, because they cannot afford to expect its decrease.
