Egypt bought 600 thou. t of tendered Black Sea wheat
The Egyptian national buyer GASC bought 600,000 t of wheat for January 9-20, 2022 loading period in an international tender, Refinitiv Agriculture reports.
GASC informs that the purchase of grain is comprised of 240 thou. t of Romanian wheat, 240 thou. t of Russian wheat and 120 thou. t of Ukrainian wheat.
Traders say Monday's GASC procurement was by far one of the largest of the season, adding that the state grain buyer may have taken advantage of the drop in grain prices.
"Grain futures fell Monday amid concerns about the Omicron coronavirus variant, with March soft red winter wheat futures in Chicago falling USD 0.18 to USD 8.22-1/4 per bushel," the message reads.
A Middle Eastern trader, who preferred to remain unnamed, claims GASC is behind in wheat purchases this year. Another trader adds that Egypt is looking to avoid possible shortages before the Christmas holiday period.
Wheat will be supplied by:
- Aldahra: 60,000 t of Romanian wheat at 350.85 USD/t and USD 25.05 of freight (NNC(National Navigation Company SAE (NNC), Egypt)), 375.9 USD/t C&F
- Solaris: 60,000 t of Russian wheat, Novorossiysk port, 351.37 USD/t and USD 26.3 of freight (NNC), 377.67 USD/t C&F
- Grain Export: 60,000 t of Romanian wheat, Constanta port, 353.5 USD/t and USD 25.05 of freight (NNC), 378.55 USD/t C&F
- CHS: 60,000 t of Romanian wheat, Constanta port, 353.5 USD/t and USD 25.05 of freight (NNC), 378.55 USD/t C&F
- ADM: 60,000 t of Romanian wheat, Constanta port, 353.5 USD/t and USD 25.05 of freight (NNC), 378.55 USD/t C&F
- GTCS: 60,000 t of Russian wheat, Novorossiysk port, KSK Grain Terminal, 352.25 USD/t and USD 26.3 of freight (NNC), 378.55 USD/t C&F
- ADM: 60,000 t of Russian wheat, Novorossiysk port, 352.37 USD/t and USD 26.3 of freight (NNC), 378.67 USD/t C&F
- Aston: 60,000 t of Russian wheat, Novorossiysk port, 352.37 USD/t and USD 26.3 of freight (NNC), 378.67 USD/t C&F
- Louis Dreyfus Company (LDC): two 60 000 consignments of Ukrainian wheat, Odesa port, 352 USD/t and USD 27.1 of freight (NNC), 379.1 USD/t C&F
Previously reported that grain prices in the Black Sea basin were pressed down by the Omicron global spread.
Since the start of 2021/22, staple grains export from Ukraine has increased by 17.6% to 24.19 mln t.
