The following is portion of an article from agrimoney.com:
Russia is not a spent force in wheat trading this season despite a rare loss in an Egyptian tender to the US, which won its first order in seven months from the world’s top grain buyer.
Egypt’s General Authority Supply Commodities (Gasc), at tender, bought 55,000 tonnes of US soft red winter wheat, the type traded in Chicago, for $262 a tonne.
The order was the first from the US since June, although a 120,000-tonne order of US soft red winter wheat revealed two weeks ago to an “unknown” destination is understood to be heading to a private buyer in Egypt, the world’s biggest wheat importing country.
Egypt has also made substantial purchases of US corn, including a 240,000-tonne order revealed on Friday.
CLICK HERE to read the rest of this article. It includes discussion on if a Russian comeback is ahead and how shipping costs play in.
Posted by Haylie Shipp