Russia sold wheat to GASC at best price, is the largest wheat exporter ready to take over Egyptian market?
After a long pause, Russian wheat successfully participated in the GASC tender. The Egyptian firm bought 60K of Russian wheat at $240 FOB (180 days payment) + $27.7 freight.
Russian wheat floating tax explained, GASC returns to the market
Egyptian GASC is holding a wheat tender on April 6 for August shipment. We believe that the Egyptian firm could return to the market to test how the new Russian floating tax will affect offers. Andre explains how it’s calculated.