Wheat buyers act swiftly
Price declines have prompted buyers to act in Algeria, Tunesia and Egypt. Algeria has allegedly purchased up to 900,000 mt of milling wheat. Tunesia ordered 150,000 mt and a further 50,000 mt of durum wheat in France. Egypt’s GASC bought 360,000 mt of wheat, 300,000 mt in Russia and 60,000 mt in France at USD 265/mt FOB for payment within a prolonged period of 270 days. While the authority bought 42,000 mt mainly in Russia on 09 January, suppliers in France are happy that they can compete again now.
The USDA has revised the whe