Iraq Buys 350,000 Tons of Wheat

By John Lee.

Iraq’s state grains board has purchased a total of 350,000 tons of wheat from Australia, Russia and Canada in a tender for a nominal 50,000 tons which closed last week:

• 200,000 tons of Australian wheat purchased from Glencore at $404.89 cif;
• 50,000 tons of Russian wheat, also from Glencore, at $399 a tonne cif;
• 100,000 tons of Canadian wheat  purchased from Viterra at $409.89 a ton cif.

Lower offers of Romanian wheat in the tender were rejected, traders said.

Another trader commented that Australian and Canadian wheat were offered aggressively to Iraq both in terms of prices and volumes.

Offers for a total 400,000 tons of Australian wheat were reportedly made to Iraq along with offers of 300,000 tons of Canadian wheat.

(Source: Reuters)