Algeria’s OAIC tenders for Dec-Jan wheat as futures jump 2%

Algeria’s state grain importer returned to the market on Tuesday as futures jumped following the USDA's monthly Wasde report, tendering to buy milling wheat to be shipped from December-January.

Office Algerien Interprofessionnel des Cereales (OAIC), which typically buys more than the 50,000 mt it tenders for, is seeking cargoes for December 1-January 31 shipment.

The tender is set to close Thursday.

At its previous tender on October 22, OAIC paid around $275-$276/mt CFR for at least 630,000 mt of 11% milling wheat.

The tender comes as wheat futures jumped over 2% on Tuesday after a bullish monthly Wasde report from the USDA cut global corn and soybean supply, a move that dragged wheat futures higher with it.

Algeria will import an estimated 6.8 million mt of wheat in the 2020/21 marketing year, according to USDA estimates updated Tuesday.

Details of Algeria’s previous imports can be found on the Agricensus Tender Dashboard.