Algeria's state-owned grain agency OAIC is seeking 50,000 tonnes of optional wheat millet wheat in an international tender process, European traders report. The offer period ends on May 31st. We are looking for wheat for the delivery period 1 - 15 July. Often, the agency buys significantly larger quantities. OAIC has already bought milling wheat for delivery in July in a tender at the end of April. Traders reported a volume of 420,000 tonnes at this time. Now it is reported that the purchase was smaller with 360,000 tons and only one third of the quantity delivered in the first half of July. Algeria traditionally covers its wheat needs mainly in France. The availability of the new crop depends on a quick start to the wheat harvest in France. Supply from the old crop could be difficult due to logistical problems associated with the ongoing rail strike.
Text: HANSA Derivatives Trading
