June 3, 2004

Jordan Buys 50,000 MT US Wheat, 50,000 MT Optional Origin
 
Jordan¡¯s Trade and Industry Ministry has bought 50,000 metric tons of U.S. hard red winter wheat and 50,000 tons of optional origin wheat at its tender for 150,000 tons that closed Wednesday, traders said.
 
The U.S.-sourced wheat was bought using GSM-102 credits at $213.40/ton on a cost and freight basis, while the optional origin wheat was bought at $200/ton C&F, they said.
 
The ministry was seeking the wheat in three 50,000-ton cargoes for second half of June shipment, first half of July shipment and second half of July shipment.
 
"This is quite a large gap in price. The optional wheat could come from Australia, the U.S. and maybe Germany," a trader said.
 
"I think Jordan will come back to the market to buy the remainder within the next two weeks," he added.
 
Jordan last bought 100,000 tons U.S. hard wheat on March 24 at $253/ton C&F after a long absence from the international market.
 
The International Gains Council forecasts that Jordan will import 800,000 tons of wheat in 2004-05 in its May report, unchanged from 2003-04.