Iraq's state grain board has purchased 50,000 tonnes of Australian-origin wheat in a tender which closed last week. Price was $360.35 a tonne c&f free out (ciffo) and shipment was in August.

Traders noted the purchase was made at well over the lowest offer of Russian wheat in the tender of $302 a tonne ciffo. "Iraq needs Australian wheat for blending purposes to maintain the correct flour grade so this is more of a technical purchase," one European trader said. "I expect a new tender to be issued by Iraq in coming days for mainstream supplies and Russian wheat will be the favourite."