Russian Wheat Cheapest in latest Tender

By John Lee.

European traders said on Monday that Russian wheat was offered lowest at $231.00 a tonne c&f free out in the tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat for shipment between 15th August and 13th September and delivery between 14th September and 28th October.

According to a report from Reuters, the tender closed on Sunday and offers must remain valid up to 18th June 18.

Russian wheat was also reportedly offered at $233.00 and $236.50 a tonne c&f free out, with one offer for US wheat at $285.42 a tonne c&f free out; the lowest offer for Australian origin was $267.50 c&f free out and the lowest from Canada was $266.00 a tonne c&f free out.

Iraq plans to become a net exporter of wheat by 2017.

(Source: Reuters)