Algerian wheat purchase estimated at 810,000 to 840,000 T -traders say

Algeria’s state grains company OAIC is believed to have actually purchased between 810,000 to 840,000 metric tons of milling wheat in a global tender on Tuesday, European traders stated on Wednesday.

This was higher than trader price quotes of around 800,000 heaps on Tuesday night.

Prices were once again primarily reported by traders in between $279 to $ 279.50 a metric ton, expense and freight (c&& f) consisted of.

The wheat is optional origin but traders expected the Black Sea area be used to provide a large volume consisting of Ukraine, Romania, Bulgaria and perhaps Russia. But non-Russian Black Sea materials were seen as best placed to be sourced.

Some volume was also anticipated to be sourced from France.

Reports reflect assessments from traders. Further quotes of prices and volumes are still possible later on.

The wheat was sought for shipment in 2 durations from the primary supply areas consisting of Europe: Aug. 1-15 and Aug. 16-31. If sourced from South America or Australia, shipment is one month previously.

Algeria is an essential customer for wheat from the European Union, specifically France, but Russian and other Black Sea region exporters have actually been expanding strongly in the Algerian market.

In its previous large-scale soft wheat purchase reported on May 3, Algeria bought between 240,000 and 300,000 lots of grating wheat at around $249 a ton c&& f.

Since then, prices struck 10-month highs on concerns about weather damage to the harvest in leading exporter Russia.

Tags: milling wheat, OAIC, quotes, tender, price, Algeria, wheat