Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UPDATE 2-French wheat offered lowest at Egypt's GASC tender -traders

Published 27/08/2019, 11:03 pm
© Reuters.  UPDATE 2-French wheat offered lowest at Egypt's GASC tender -traders
GLEN
-

(Adds cost and freight offers)

CAIRO, Aug 27 (Reuters) - The lowest offer presented at an Egyptian state purchase tender for wheat was $193.86 a tonne for 60,000 tonnes of French grain, traders said on Tuesday.

The offer was presented by Glencore (LON:GLEN).

Egypt, the world's largest wheat buyer, said on Monday that it was seeking an unspecified quantity for shipment on Oct. 1-10.

The results of the tender, carried out by state buyer the General Authority for Supply Commodities (GASC), are expected later on Tuesday.

Traders gave the following breakdown of the offers presented in dollars per tonne on a free-on-board (FOB) basis:

* Glencore: 60,000 tonnes of French wheat at $193.86

* Louis Dreyfus: 60,000 tonnes of Ukrainian wheat at $199.07

* Posco International: 60,000 tonnes of Russian wheat at $199.70

* Posco International: 55,000 tonnes of Russian wheat at $199.90

* Posco International: 55,000 tonnes of Russian wheat at $199.90

* Garant Logistics: 60,000 tonnes of Russian wheat at $199.99

* Glencore: 55,000 tonnes of Russian wheat at $200.86

* Solaris: 60,000 tonnes of Russian wheat at $201.90

* Grain Export: 60,000 tonnes of Russian wheat at $202.30

* ADM: 55,000 tonnes of Russian wheat at $202.50

* Solaris: 60,000 tonnes of Russian wheat at $203.50

* GTCS: 60,000 tonnes of Russian wheat at $204.00

* Agro Ast: 60,000 tonnes of Russian wheat at $205.00

Traders said the following were the best offers including cost and freight (C&F):

* Glencore: 60,000 tonnes of French wheat at $193.86 and $23.70 freight equating to $217.56

* Posco International: 60,000 tonnes of Russian wheat at $199.70 and $16.85 freight equating to $216.55

* Louis Dreyfus: 60,000 tonnes of Ukrainian wheat at $199.07 and $18.30 freight equating to $217.37

* Posco International: 55,000 tonnes of Russian wheat at $199.90 and $17.21 equating to $217.11

* Posco International: 55,000 tonnes of Russian wheat at $199.90 and $17.22 equating to $217.12

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.