Egypt Shuns US Wheat In Tender

Posted by Nogger - a legend in his own mind at 14:15 | Categorized as

02/11/10 -- Egypt's state-owned wheat buyer GASC snubbed US wheat in today's tender, buying instead a combination of 230,000 MT of Argentine, Australian and French wheat for January shipment.

That's the first time they've bought Argentine wheat in as long as I can remember, and maybe indicates that there's still a bit of competition around for US wheat.

Reports out of Argentina suggest that very early wheat yields are extremely promising, with a crop of 12 MMT potentially on the cards.