The offer was presented by Daewoo. Results are expected later on Thursday.

GASC is seeking an unspecified amount of wheat for the end-January shipping period.

Traders told Reuters on Wednesday GASC had delayed wheat payment guarantees for some shipments that had already arrived in the country but the supply ministry dismissed criticism.

Sources had said letters of credit for 16 recently purchased wheat cargoes, of which at least five have already arrived at Egyptian ports, had not been issued but the supply ministry later said the payment guarantees had since issued for three wheat cargoes due Dec. 1-10 and would be issued for the five cargoes due Nov. 11-20.

GASC had asked suppliers who sold 8 cargoes for the Dec. 11-20 shipping period if they could delay shipments to January or ship without letters of credit, according to traders with knowledge of the matter.