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French wheat offered lowest at Egypt's GASC tender -traders

Published 2019-08-27, 09:03 a/m
Updated 2019-08-27, 09:12 a/m
© Reuters.  French wheat offered lowest at Egypt's GASC tender -traders

CAIRO, Aug 27 (Reuters) - The lowest offer presented at an Egyptian state purchase tender for wheat was $193.86 a tonne for 60,000 tonnes of French grain, traders said on Tuesday.

The offer was presented by Glencore (LON:GLEN).

Egypt, the world's largest wheat buyer, said on Monday that it was seeking an unspecified quantity for shipment on Oct. 1-10.

The results of the tender, carried out by state buyer the General Authority for Supply Commodities (GASC), are expected later on Tuesday.

Traders gave the following breakdown of the offers presented in dollars per tonne on a free-on-board (FOB) basis:

* Glencore: 60,000 tonnes of French wheat at $193.86

* Louis Dreyfus: 60,000 tonnes of Ukrainian wheat at $199.07

* Posco International: 60,000 tonnes of Russian wheat at $199.70

* Posco International: 55,000 tonnes of Russian wheat at $199.90

* Posco International: 55,000 tonnes of Russian wheat at $199.90

* Garant Logistics: 60,000 tonnes of Russian wheat at $199.99

* Glencore: 55,000 tonnes of Russian wheat at $200.86

* Solaris: 60,000 tonnes of Russian wheat at $201.90

* Grain Export: 60,000 tonnes of Russian wheat at $202.30

* ADM: 55,000 tonnes of Russian wheat at $202.50

* Solaris: 60,000 tonnes of Russian wheat at $203.50

* GTCS: 60,000 tonnes of Russian wheat at $204.00

* Agro Ast: 60,000 tonnes of Russian wheat at $205.00

Traders said the following were the best offers including cost and freight (C&F):

* Glencore: 60,000 tonnes of French wheat at $193.86 and $23.70 freight equating to $217.56

* Posco International: 60,000 tonnes of Russian wheat at $199.70 and $16.85 freight equating to $216.55

* Louis Dreyfus: 60,000 tonnes of Ukrainian wheat at $199.07 and $18.30 freight equating to $217.37

* Posco International: 55,000 tonnes of Russian wheat at $199.90 and $17.21 equating to $217.11

* Posco International: 55,000 tonnes of Russian wheat at $199.90 and $17.22 equating to $217.12

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