Egypt Back In For Wheat

02/09/13 -- Egypt's state wheat buyer GASC were back in the market again over the weekend, booking 355 TMT of Black Sea origin wheat in their second tender in a week. The divi cheque that they were waiting on from the Cairo Building Society must have come through, as this little lot is going to set them back around USD9.4 million in round figures by my calculations.

They bought one cargo (55 TMT) of Ukraine wheat at USD254.87/tonne including freight, two cargoes (120 TMT) of Romanian wheat at USD264.69/tonne and three cargoes (180 TMT) of Russian wheat at an average of USD265.15/tonne.

The Ukraine wheat was priced at USD250/tonne FOB, with the Romanian and Russian wheat all around USD253/tonne FOB. The cheapest French (in fact only) offer was USD263/tonne FOB (with freight taking the C&F cost up to over USD282/tonne).