For wheat prices around the world is unpleasant, the next target could be $3,80 ($140/t). The reasons for the decline are the same – high expectations of the new harvest in the world and in Russia. Last week the international grains Council (IGC) raised its forecast of production in Russia, 9 million tonnes to 80 million tonnes.
 
Amid falling market, the Egyptian state company GASC today holds a new tender. Proposals are already known, the cheapest Russian wheat offered at $186/ton, which is $6 below the previous tender.
 
Photo: yugtimes.com