Russian wheat offered lowest at Egypt’s GASC tender

The lowest offer presented at an Egyptian state purchasing tender for wheat on Monday was $331.90 per tonne for 60,000 tonnes of Russian wheat on a free-on-board (FOB) basis, traders said.

The offer was presented by Agro AST.

Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC,) is seeking an unspecified quantity of wheat for shipment Dec 11-20.

Earlier on Monday, Saudi Arabia said it bought 1.268 million tonnes of milling wheat at an average price of $377.54 per tonne.

Traders gave the following breakdown of the offers on a FOB basis in dollars per tonne:

GTCS: 55,000 tonnes of Russian wheat at $337.37

Cargill: 60,000 tonnes of Russian wheat at $340.99

ADM: 60,000 tonnes of Romanian wheat at $337

Grain Export: 60,000 tonnes of Romanian wheat at $340

Solaris: 60,000 tonnes of Russian wheat at $332.86

Agro AST: 60,000 tonnes of Russian wheat at $331.90

Posco International: 60,000 tonnes of Russian wheat at $332.80

No purchase has yet been made but tender results are expected later on Monday.
Source: Reuters (Reporting by Nadine Awadalla and Sarah El Safty in Cairo, Michael Hogan in Hamburg; Editing by Jan Harvey and Barbara Lewis)