GASC purchases 60k tonnes of Ukrainian wheat

The General Authority for Supply Commodities (GASC) purchased 60k tonnes of Ukrainian wheat in an international tender yesterday that attracted only four bids, Reuters’ Arabic service reports. GASC purchased the wheat from Louis Dreyfus at USD 219.9 per tonne free-on-board, traders tell the newswire. Egypt issuing a wheat tender at this time seemed a questionable decision to traders, who note that international prices are currently higher than usual. Egypt is also in the midst of its own harvest season, and has thus far purchased 2.6 mn tonnes from local farmers.