By David Hodari 
 

LONDON--Egypt's state grain buyer received at least 17 offers in its latest wheat tender, with Russian grain constituting most of the offers, traders said Thursday.

Russian Black Sea wheat has dominated wheat tenders from Egypt's General Authority For Supply Commodities in recent months. In its last wheat tender in late October, GASC bought 470,000 metric tons from Russia, Ukraine and the U.S. Egypt is the world's largest grain importer.

Traders said late Wednesday that the state grain-buying agency issued a tender for wheat for delivery between Jan. 10 and Jan. 20.

On this occasion, the state body received 11 Russian offers, in addition to four offers from Romania, one from Ukraine and two from the U.S.

Of the Russian offers, two came from GTCS at $239.15 and $242 a ton excluding shipping fees, and two came from Daewoo at $240.30 and $243.35 a ton. Other offers came from Agro Ind. at $233.50, Glencore at $238.86, Grand Logistics at $239 and Alegrow at $239.15 a ton.

The remaining Russian offers came from ADM at $243.50 a ton and Aston at $239.90 a ton.

The Romanian offers came from ADM at $240.64, Cerealcom at $239, Ameropa at $246.50 and Cofco at $242.99 a ton.

The sole Ukrainian offer came from Louis Dreyfus Company at $239.75 a ton, while both American offers came from Cargill at $221 a ton.

The average price of tender offers without shipping fees was $238.23 a ton.

The results of the tender are due later Thursday.

U.S. wheat futures were last up 0.44% at $5.09 a bushel and European milling wheat futures were last up 0.75% at EUR200.75 a metric ton.

 

Write to David Hodari at david.hodari@wsj.com

 

(END) Dow Jones Newswires

November 22, 2018 08:13 ET (13:13 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.