Russian wheat was offered lowest at $242.60 a tonne c&f free out (ciffo) in a tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday. The tender closed on Monday and offers must remain valid up to April 24, traders said.
No purchase had yet been made, they said. The lowest offer for Russian wheat was made for 50,000 tonnes, they said. Russian wheat was also offered at $248.50 and $249 a tonne ciffo, each for 50,000 tonnes, they said. The lowest offer for US wheat was $257.35 a tonne ciffo, the lowest offer for Australian origin was $262.50 and the lowest from Canada was $264.95 a tonne ciffo, they said.
The tender had sought wheat from the United States, Canada, Russia or Australia. Shipment is sought between June 1-30 with delivery between July 1 and August 14, they said. Volumes in Iraq's wheat tenders are nominal and the country frequently buys more than it tenders for.
Traders expect Iraq to make a large purchase in the tender following a period of restrained grain imports following a weakness in crude oil prices in recent months while the impact of the conflict with the Islamic State on Iraq's agriculture is still unclear.
Comments
Comments are closed.