January 30, 2004

Egypt's Buys 115,000 MT US Wheat

Egypt's main-state wheat buyer, the General Authority for Supply Commodities, or GASC, said Thursday that it bought 115,000 metric tons of U.S. wheat.

Of the total, GASC bought one 55,000-ton cargo of U.S. hard red wheat from Toepfer at $164.44/ton, and a 60,000-ton cargo of U.S. soft white wheat from Columbia Grain at $152.21/ton, said Saeed Hifny, a senior GASC official.

Both cargoes are for March 1-10 shipment.

GASC issued the tender late Wednesday and last purchased wheat through the tender process Jan. 24, securing 240,000 tons of U.S. and Australian wheat.

Egypt is forecast to import 6.5 million tons of wheat during the 2003-04 marketing year, according to the latest report from the International Grains Council.