Markets Extra

Results of Gasc wheat tender - August 13

Markets Extra16 Aug 2019by Markets Extra

Results of the latest wheat tender by Gasc for delivery in 2019-20.

One of the cheapest offers was actually of French wheat, tendered by Glencore at $199.98 a tonne, but rendered uncompetitive thanks to the higher costs of shipping to Egypt, compared with Black Sea origins.

Tenders by Gasc - grain authority for Egypt, the world’s top wheat importer - are closely monitored by investors.

The results of the previous tender can be found here.

Origin	Amount purchased (tonnes)	Price ($ per tonne)	Merchant	Freight cost ($ per tonne)
Russia	60,000	202.48	Solaris	14.71
Russia	60,000	202.48	Hakan	14.71
Ukraine	60,000	199.75	Hakan	18.25
Ukraine	60,000	199.75	Dreyfus	18.25
Russia	55,000	200.90	ADM	18.00
Total	295,000
Average price		201.07

Running total of Gasc wheat tender results 2019-20
Origin	Amount purchased (tonnes)
Romania	660,000
Russia	705,000
Ukraine	415,000
Total	1,780,000
Total spent, including freight (million dollars)		384.06

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