Have been reportedly offered wheat at varying prices starting at USD280/tonne in today's wheat tender. That's the same price it booked 240,000 MT of French wheat at over the weekend.

It would be interesting to see what happened if they passed, saying that the prices quoted were too dear. They've got six months worth of reserves anyway, and seeing as prices are now up by well over USD100/tonne from what they were paying in late June, that would be my strategy if I was them.

The trade seems to think that they have them over a barrel now that Russia is out of the market. A little reminder that they maybe aren't quite so vulnerable would shake things up a little bit on the eve of the USDA report.