Russia has scooped all of the biggest wheat import order by Egypt in at least a year, although it required price cuts to keep the supplies more competitive than rival offers of French grain.

Russia tightened further its grip on sales to Egypt, the world's top importer, by winning all of a 420,000-tonne order.

The purchase took to well above 2m tonnes Egypt's purchase of Russian wheat since the 2011-12 marketing year began at the start of July.

This time, offers from Romania and Kazakhstan, which have won some business from Egypt's state grain buying, the General Authority for Supply Commodities (Gasc), were absent.

Russian vs French 

However, against a background of weakened futures prices, Russia required discounts from last week to defend its competitiveness against French grain.

Egypt paid on average $278.42 a tonne for wheat this time, down more than $12 a tonne on the price it paid for Russian grain at the last tender, last week.

French wheat, which earlier in 2011-12 was more than $30 a tonne off Russia's pace, was offered by Cargill at $283.95 a tonne, although shipping costs are some $5 a tonne higher on top.

The order follows a decline of some 13% in Chicago wheat prices this month, depressed by improved hopes for world production, against a rapid North America harvest of spring wheat, prospects of rain for the drought-stricken southern US, and a better European harvest than had been feared.

"After the recent fall on world markets it is hardly surprising to see [Egypt] buying on the dips," the UK grain arm of a major commodities house said.