Algeria's state grain buyer OAIC bought a significantly larger amount of wheat last week than originally thought. European traders report today that the amount is 555,000 tonnes of wheat. Last Friday, the amount of at least 390,000 tons was reported. Algeria itself does not publish the results of the tenders.
Six sellers sold wheat in a range between $ 209.25 and $ 213.75 / ton c & f for delivery in March. If the wheat comes from South America, the delivery should take place in February. Traders pointed to the competition between France and Argentina. However, the strong euro against the US dollar weakens the competitiveness of euro area wheat.
