The purchase price of the tender in Egypt has decreased again

Friday wheat markets got a lot of new pricing factors. In addition to the regular USDA report traders interested in the results of the Egyptian tender.

State operator GASC at the auction on 8 February purchased 300 tons of soft milling wheat on the delivery terms 21-31 March at an average price of 260,58 $/t CFR, which is 2.19 $/ton lower than at the previous tender. Besides, the Russian wheat once again was not included in the list of winners.

In comparison with the previous tender, has greatly increased the number of offers of French wheat and decreased by 1.34 and 3.3 $/ton bid prices of all participants.

To tender the following was proposed:

three of the party of Romanian wheat at the price 250,84-256,8 $/t FOB,

five batches of French wheat at a price 244,86-248,51 $/t FOB,

the two parties of American SRW wheat at a price of 235 $/t FOB,

one party of Ukrainian wheat at a price 249,25 $/t FOB.

• four batches of Russian wheat at a price 252,94-255 $/t FOB,

the price of the offer of Russian wheat was the highest, and taking into account the freight costs amounted to 266.5 $/t C&F.

At auction GASC bought:

60 KMT of French wheat from Glencore at a price 244,50 $/MT FOB with freight rate of 17.15 $/t = 261,65 $/t C&F

two batches of 60 thousand tons of SRW wheat U.S. from Cargill at a price 234,47 $/MT FOB with freight rate loss of 25.53 $/t = 260 $/t C&F

60 KMT of Ukrainian wheat from Louis Dreyfus at a price 247,90 $/MT FOB with freight rate 13,30 $/t = 261,20 $/t C&F.

• 60 KMT of French wheat from Glencore at a price 244,50 $/MT FOB with freight rate of 15.55 $/t = 260,05 $/t C&F

the Russian wheat is the third time this season, losing the tender of GASC. At the last auction, the best offer of Russian wheat was by 8.44 $/t FOB 3,89 $/MT C&F higher than the best European winner.

the Results showed that traders from the US and the EU are ready to lower the prices for increased sales of wheat, while the price of Russian wheat on the background of reduction of stocks falling very slowly.