The combination of bearish WASDE report and Wheat Seedings USDA released on Friday, 12_января, as well as the decline in European futures, the Egyptians seemed an attractive prospect to replenish the grain reserves of the country.

However, a stronger ruble and ongoing uncertainty in policy of import of wheat in Egypt raised the price of the average offer FOB in the market in comparison with the prices of the tender last week (9 January) to $200/t FOB Russia, according to market sources.

In total were purchased 5 Kargo average $197,0-198,0/MT FOB with freight rates of $13,75-15,15/t we Offer prices for wheat reached $212,15/t-213,20 C&F to Egypt, an increase of $4,07/t

Photo: agroxxi.ru