The purchase price of the Egyptian tender was down 4%

At yesterday's Egyptian tender operator GASC has purchased 350 thousand tons of wheat of black sea origin with delivery 11-20 October at an average price of 241 $/t C&F, which is due to the decline in world prices was 4% below purchase price of previous tender, which took place two weeks ago.

- Egypt GASC bought 290 TMT of Russian wheat at a price 221,51-225,5 $/MT FOB with freight rate of 15.23-28,26 $/ton 60 thousand tons of Ukrainian wheat from Dreyfus company at a price of 223.5 $/t FOB with freight rate of 17.9 $/t

the Russian wheat was offered at a price 221,5-232 $/MT FOB, Ukrainian – 227 $/t FOB, Romanian 241-248 $/t FOB. In addition, for the first time in several months was proposed by U.S. wheat at a price of 257 $/t FOB.

the results of the tender indicate that black sea wheat has the largest demand in the world market and is still the cheapest, and the willingness of sellers to lower prices to enhance sales.

After the long weekend, during which was celebrated the main Muslim holiday Kurban Bayram, soon to be increased demand for wheat from the Arab countries. Traders are closely watching the results of the tenders in Egypt as they give the market guidance on pricing.