Egypt buys 170,000 tons of European wheat despite drop in Russian prices
Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it had bought 170,000 metric tons of wheat in an international tender. The purchase comprised 60,000 tons of Romanian wheat for Nov. 10-20 shipment and 110,000 tons of Romanian and Bulgarian wheat for Nov. 21-30 shipment, it said. European wheat has continued its winning streak in Egyptian tenders as an unofficial price floor has weighed on Russian wheat’s competitiveness. Traders say the Russian government had been imposing an unofficial minimum export price of $270 a ton ...
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