Price jumps $22/mt over month as GASC books three wheat cargoes

Egypt’s state grain importer booked three cargoes of Russian milling wheat at a tender on Friday, paying $22/mt more...

Egypt’s state grain importer booked three cargoes of Russian milling wheat at a tender on Friday, paying $22/mt more than a month ago.

General Authority for Supply Commodities (GASC) paid an average $278.54/mt.

Having received 22 offers from traders over the two delivery windows, mainly from Russia as well as France and Ukraine, GASC eventually booked three cargoes totalling 165,000 mt.

The first 55,000 mt cargo was sold by LDC at $262.97/mt FOB for delivery December 1-10 with freight taking the total price to $277.87/mt CFR Egypt.

It paid $263.97/mt FOB to LDC and ADM for two additional 55,000 mt cargoes for December 11-20 delivery with similar freight taking the landed price to $278.87/mt CFR.

At its previous tender, which closed September 22, GASC bought 405,000 mt of Russian-origin wheat at an average price of $242.82/mt FOB and $256.48/mt CFR for delivery November 10-20.

Egypt, the world’s biggest wheat importer, will import around 13 million mt in the 2020/21 marketing year, according to USDA data, with GASC expected to account for around half that volume.

Details of previous GASC buying can be found on the Tender Dashboard.

What to read next
French milling wheat exports from the port of Rouen reached their greatest volume in the past 16 weeks, with 87,000 tonnes of milling wheat exported in the week to March 26, according to data released by French port operator Haropa on Thursday, March 27. While the 87,000 tonnes is a relatively large volume of weekly […]
Turkey has reason to be cautious and should hope for rain in March and April if grain production is to be maintained in the country, an international conference in Dubai heard on Thursday, February 20. The warning came from the general manager of the Turkish Grain Board (TMO), Ahmet Güldal, speaking at the Intercontinental Commodity […]
China has announced additional tariffs of up to 15% on imports of US goods from March 10, with the new measures covering largely agricultural products, alongside restricted exports to 15 US companies, according to a notice posted by the country’s Ministry of Finance and Ministry of Commerce on Tuesday, March 4. Imports of agricultural goods […]
The European Union’s weekly wheat exports amounted to 243,324 tonnes in the week to Sunday, February 16, according to initial data from the European Commission. Total wheat exports from the EU for the 2024/25 marketing year stood at 13.34 million tonnes, down by 36% compared with the same period in the previous marketing year, when […]
US corn sales for the 2024-25 season were reported at 1.65 million tonnes in the week to February 6, up by 12% from the previous week and by 20% from the prior four-week average, landing within the USDA’s expected range of 800,000-1.7 million tonnes, USDA data showed on Thursday, February 13. Much of the increase […]
Brazilian corn exports amounted to 3.59 million tonnes in January, down by 26.3% from the same month last year. Meanwhile, soybean shipments fell by 62.4% to 1.07 million tonnes, according to customs weekly data on Monday, February 10. In January last year, Brazil exported 4.87 million tonnes of corn and 2.85 million tonnes of soybeans. […]