Algeria starts buying milling wheat in tender – traders
PARIS/HAMBURG, Sept 19 (Reuters) – Algeria’s state grains agency OAIC has started buying milling wheat in an international tender which closed on Tuesday, European traders said in initial assessments.
Initial purchases reported were around $272 a metric ton cost and freight (c&f) included, they said. Tonnage bought was initially unclear but some early trade estimates were around 120,000 tons.
Negotiations in the tender have not yet finished, they said.
Results reflect assessments from traders and further estimates of prices and volumes are expected later.
The wheat is sought for shipment in three periods from the main supply regions including Europe: Nov. 16-30, Dec. 1-15 and Dec. 16-31. If sourced from South America or Australia, shipment is one month earlier.
Algeria does not release results of its tenders and reports are based on trade estimates.
(Reporting by Gus Trompiz in Paris and Michael Hogan in Hamburg)
((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))
Source Link: https://www.nasdaq.com/articles/algeria-starts-buying-milling-wheat-in-tender-traders-6
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