The purchase price of wheat in Egypt rose again

the purchase Price of a wheat tender in Egypt was $ 5 higher than at the previous auction, which took place on 12 December.

Yesterday, the Egyptian Agency GASC bought at the next tender 120 tons of soft milling wheat of Ukrainian and Romanian origin, with delivery from 11 to 20 February 2019.

Feature of the tender was a small offer of Russian wheat and the rise in prices to $ 8-10 in comparison with the previous tender, as well as the increased supply of European wheat.

the tender received 8 bids for the sale, namely:

two batches of Russian wheat at a price of 249,95 and 255,0 $/t FOB,

one batch of American wheat at a price 250,25 $/t FOB,

four of the party of Romanian wheat at the price 248,75-254,75 $/t FOB.

• one party of Ukrainian wheat at a price 246,40 $/t FOB Odessa,

In total, GASC bought only the cheapest two of the proposed party, but the purchase price is increased by 5 $/t compared to the previous tender. The main reason for the increase in the purchase price of steel of late payment for December deliveries of wheat and a sharp rise in prices of Russian wheat, caused by the reduction proposals.

Only the tender was purchased:

60 KMT of Ukrainian wheat from company LDC at a price of 246,4 USD/MT FOB-Odessa at a rate of ocean freight 17,30 $/t = 263,70 $/t C&F.

• 60 KMT of Romanian wheat from company CHS for the price of 248,75 $/t FOB-Constanta at a rate of 15.35 ocean freight $/t = 264,10 $/t C&F

the Growth of prices for Russian wheat above 250 $/t FOB opens the Egyptian market for European and American wheat prices, which may decline due to significant stocks of unsold wheat.