July 11, 2020

Egypt's state tender sees lowest offer for Russian wheat

GTCS has presented the lowest offer for Russian wheat on Tuesday at an Egyptian state tender at US$205 per tonne, free-on-board (FOB), for 55,000 tonnes of the grain, according to traders, Reuters reported.

Egypt's state grains buyer, the General Authority for Supply Commodities (GASC,) is in the market for an unspecified amount of wheat from global suppliers for shipment from August 8-18 for payment at sight.

Traders gave the following breakdown of the offers presented in dollars per tonne on an FOB (Free On Board) basis—GTCS: 55,000 tonnes of Russian wheat at US$205; Cofco: 60,000 tonnes of Romanian wheat at US$209.99; Louis Dreyfus: 60,000 tonnes of Ukraine wheat at US$207.97; Agro AST: 55,000 tonnes of Russian wheat at US$207; ADM: 60,000 tonnes of Russian wheat at US$208.45; Nibulon: 60,000 tonnes of Russian wheat at US$206.95; Solaris: 60,000 tonnes of Russian wheat at US$207.70; Grain Export: 60,000 tonnes of Russian wheat at US$205.70; Orsett: 60,000 tonnes of Russian wheat at US$209; Hakan: 60,000 tonnes of Russian wheat at US$205.65; Glencore: 60,000 tonnes of Russian wheat at US$210.86; and Glencore: 60,000 tonnes of French wheat at US$218.86.

Traders said the following were the most competitive offers presented including cost and freight (C&F)—Hakan: 60,000 tonnes of Russian wheat at US$205.65 FOB and US$13.2 freight equating to US$218.85 C&F; Grain Export: 60,000 tonnes of Russian wheat at US$205.70 FOB and US$13.2 freight equating to US$218.90 C&F; GTCS: 55,000 tonnes of Russian wheat at US$205 FOB and US$14 freight equating to US$219 C&F; Nibulon: 60,000 tonnes Ukraine wheat at US$206.95 FOB and US$13.62 freight equating to US$220.57 C&F; Solaris: 60,000 tonnes of Russian wheat at US$207.70 FOB and US$14.23 freight equating to US$221.93 C&F; Agro AST: 55,000 tonnes Russian wheat at US$207 FOB and US$15.23 freight equating to US$222.23 C&F; ADM: 60,000 tonnes Russian wheat at US$208.45 FOB and US$15.37 freight equating to US$223.82 C&F; Louis Dreyfus: 60,000 tonnes of Ukraine wheat at US$207.97 FOB and US$16.19 freight equating to US$224.16 C&F.

No purchase has yet been made and results are expected later on Tuesday.