HAMBURG/PARIS: Algeria’s state grains agency OAIC is believed to have bought between 450,000 to 500,000 tonnes of milling wheat in an international tender which closed on Wednesday, European traders said on Thursday.

This was above estimates of about 400,000 tonnes on Wednesday evening.

Price estimates on Thursday were again between $354 to $355.50 a tonne cost and freight (c&f) included, the same as reported on Wednesday night although $355 a tonne c&f was more frequently spoken of on Thursday.

Technically supplies are optional origin, but traders said they expected a range of source countries including France, Germany and the Black Sea region including Bulgaria and Russia.

More detailed assessments prices and tonnage bought are still possible later.

The wheat was sought for shipment in two periods in 2023 from the main supply regions including Europe: Jan. 1-15 and Jan. 16-31. If sourced from South America or Australia, shipment is one month earlier. Algeria is a vital customer for wheat from the European Union, especially France.