Egypt's GASC buys 415kmt Romanian, Ukrainian, Russian wheat

Egypt's state buyer GASC has bought 415,000 mt of Romanian, Ukrainian and Russian wheat after tendering for milling wheat for September 5-15 shipment, market sources have told Agricensus.

GASC, the world's biggest wheat buyer, picked up seven cargoes of milling wheat including two from Ukraine, one from Romania and the remaining four from Russia. 

ADM sold 60,000 mt of Romanian wheat at $219.42, with Louis Dreyfus and Hakan Agro selling the two Ukrainian cargoes at $217.27/mt and $219.35/mt respectively. 

Hakan's Ukraine wheat offer was for 55,000 mt, while the trader also sold 60,000 mt of Russian wheat at $217.37/mt. 

Garant Logistik, Solaris and Posco Daewoo also all sold a 60,000 mt cargo of Russian wheat apiece, all valued at $220.05/mt. 

At its last tender on July 23, GASC purchased 300,000 mt of milling wheat at an average of $202.2/mt FOB or $219.34/mt CFR Egypt for August 25-September 5 delivery.

The sold volume included Ukrainian, Romanian and Russian origin cargoes.

The tender comes after Egyptian buyers showed an increase in physical market activity, buying 11.5% milling wheat on a CFR basis after freight rates eased over the week and made destination sales more attractive.

Details of GASC’s previous tenders can be found on the Tenders Dashboard.