Egypt Buys Russian/French Wheat
Egypt's state owned wheat buyer the General Authority for Supply Commodities (GASC) has said it has bought 240,000mt of wheat in a tender concluded Tuesday.
GASC had originally only tendered for 55-60,000mt, but often tenders for just one cargo and then buys more.
It is understood that the purchase consisted of both 120,000mt each Russian and French wheat at prices ranging from USD163-171 FOB, equivalent of around GBP108-114.
The news provided French wheat futures with a shot in the arm. Paris March milling wheat currently +EUR0.75 at EUR131.50/tonne.
GASC had originally only tendered for 55-60,000mt, but often tenders for just one cargo and then buys more.
It is understood that the purchase consisted of both 120,000mt each Russian and French wheat at prices ranging from USD163-171 FOB, equivalent of around GBP108-114.
The news provided French wheat futures with a shot in the arm. Paris March milling wheat currently +EUR0.75 at EUR131.50/tonne.
