Egypt's state-owned grain buyer GASC said it bought 600,000 tons of wheat yesterday as part of an international tender process for shipment from January 9th to 20th. The purchase included 240,000 tons of Romanian wheat, 240,000 tons of Russian wheat and 120,000 tons of Ukrainian wheat, GASC said. Traders said yesterday's purchase was one of GASC's largest this season, adding that the state grain buyer could benefit from falling grain prices.
Grain futures slumped yesterday amid concerns over the emergence of the new variant of Omicron coronavirus.
A Middle Eastern trader said, on condition of anonymity, that GASC was behind on its wheat purchases this year, while a second trader said he wanted to avoid shortages before the Christmas holidays.
Source
Hansa Terminhandel GmbH