UPDATE 2-Egypt\’s GASC receives offers for wheat tender – trade – RTRS | News | Thomson Reuters Eikon 10/09/2015

UPDATE 2-Egypt’s GASC receives offers for wheat tender – trade – RTRS

09-Oct-2015 07:23

(Adds best cost and freight offers)

ABU DHABI/HAMBURG, Oct 9 (Reuters) – The lowest offer in Egyptian state buyer GASC’s wheat purchase tender that closed on Friday was $196.74 a tonne free on board (FOB) for French wheat, traders said.

The offer was made for 60,000 tonnes, they said.

No purchase has yet been made and results are expected later on Friday, traders said.

The wheat is for shipment on Nov. 11-20.

Traders said the following offers were submitted to GASC in the first round of the tender on Friday (in dollars a tonne FOB):

  • Soufflet: 60,000 tonnes French at $196.74
  • Union Co.: 60,000 tonnes Russian at $198.11
  • ADM: 60,000 tonnes Romanian at $198.69
  • Cargill: 60,000 tonnes French at $198.80
  • Cargill: 55,000 tonnes Russian at $199
  • ADM: 60,000 tonnes Russian at $199.69
  • Invivo: 60,000 tonnes French at $201
  • Lecureur: 60,000 tonnes French at $201.40
  • Bunge: 60,000 tonnes French at $203
  • Vitol: 60,000 tonnes Russian at $203
  • Glencore: 55,000 tonnes Russian at $206


Traders also said the shortlist of best offers on a cost and freight basis (C&F) was as follows:

  • Union Co.: 60,000 tonnes of Russian wheat at $198.11 a tonne FOB and $7.89 a tonne freight equating to $206 a tonne C&F
  • ADM: 60,000 tonnes Romanian wheat at $198.69 a tonne FOB and $9.39 a tonne freight equating to $208.08 a tonne C&F
  • ADM: 60,000 tonnes of Russian wheat at $199.69 a tonne FOB and $9.24 a tonne freight equating to $208.93 a tonne C&F
  • Soufflet: 60,000 tonnes French wheat at $196.74 a tonne FOB and $12.22 a tonne freight equating to $208.96 a tonne C&F


(Reporting By Maha El Dahan and Michael Hogan; Additional reporting by Valerie Parent in Paris; Editing by Pravin Char) ((Maha.Dahan@thomsonreuters.com; + 9712 4082101; Reuters Messaging: maha.dahan.thomsonreuters.com@reuters.net))






©Thomson Reuters 2015. All rights reserved. The Thomson Reuters content received through this service is the intellectual property of Thomson Reuters or its third party suppliers. Republication or redistribution of content provided by Thomson Reuters is expressly prohibited without the prior written consent of Thomson Reuters, except where permitted by the terms of the relevant Thomson Reuters service agreement. Neither Thomson Reuters nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

***************************************** This email was sent to you from Thomson Reuters Eikon. Please visit http://thomsonreuterseikon.com/ for more information *****************************************





© Rosenthal Collins Group 2015

If you are not the intended recipient of this message, you may not disclose, print, copy or disseminate this information. If you have received this in error, please reply and notify the sender (only) and delete the message. Unauthorized interception of this e-mail is a violation of federal criminal law. Unless otherwise indicated, this is not intended to be an offer to sell or a solicitation to buy any futures or options on futures contract. RCG or its affiliates may have positions in: futures, options, securities or other financial instruments which may be referred to herein. Trading in futures and options on futures entails significant risks which may not be appropriate for all investors. Past performance is not necessarily indicative of future results.

This entry was posted in Breaking News, Daily Market Commentaries, Daily Market News, Market Commentaries. Bookmark the permalink.

Leave a Reply