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HAMBURG - Egypt's state grains buyer is believed to have bought an additional 120,000 tonnes of Russian and French wheat in direct negotiations with trading houses on Thursday, traders said.
This followed a previous purchase in direct talks on Wednesday of about 640,000 tonnes of wheat mostly at $403 a tonne c&f.
Traders gave these estimates of Thursday’s purchase with seller, tonnes sold, shipment period and c&f price: Aston: 30,000 tonnes Russian, Aug. 20-Sept. 5 at $402.50 Viterra: 60,000 tonnes Russian, Aug. 20-Sept. 5 at $402.50 Sierentz: 30,000 tonnes French, Nov. 1-15 at $402.00 As no international tender has been issued, GASC is not officially announcing the result of the talks.
Reports are based on estimates from traders and more detailed assessments of tonnes bought and prices are still possible later.
GASC on Tuesday had also rejected offers in an international tender for the same shipment periods but in which Egypt's traditional supplier regions in the Black Sea and Europe were excluded, with only wheat from the United States offered at $443 a tonne c&f.
The latest deal continues heavy buying by GASC in direct deals without formal tenders being issued.
(Reporting by Michael Hogan. Editing by Jane Merriman)