Wheat export premiums at the US Gulf Coast held steady on Monday despite rising futures values, underpinned by strong demand for wheat from Middle East and North African countries, traders said. US hard red winter wheat is the least expensive hard wheat available in large volumes on the world market. Most of the latest tenders from Middle East and North Africa were for hard wheat.
Iraq bought 50,000 tonnes US wheat and 250,000 tonnes Australian wheat via a tender. Iraq also issued a new tender for at least 100,000 tonnes of wheat from any origin as flour prices surge. Algeria state grain agency says grain stocks comfortable after recent purchases but issues fresh tender for a wheat.
Turkey seeking 300,000 tonnes wheat. Bidding deadline on Tuesday for Jordan tender to buy 100,000 tonnes wheat. Lebanon tender for 22,500 tonnes wheat closes on Tuesday. Iran likely to seek wheat imports after drought cut its crop by 30 percent.
Egypt's GASC bought 55,000 tonnes US soft white wheat in a tender over the weekend, along with Australian and Argentine wheat. US soft red winter wheat was nearly $20 per tonne more expensive than US white wheat. GASC passed on tender for hard wheat likely due to high prices, traders said. HRW was the only hard wheat offered.