European traders reported that Algeria's state grain agency OAIC bought milling wheat at an international auction that ended on Tuesday.

They said that the initial cost of a metric tonne, including freight and costs, was $259, 260, and 261.

Initial, the size of the order in terms of tonnage was not clear. Traders said that negotiations continue and additional purchases are possible.

The reports reflect the assessments of traders, and more estimates on prices and volume are expected in due course.

Wheat was requested for shipment from two main regions, including Europe: November 16-30 and November 1-15. The shipment date is one month sooner if the wheat comes from South America or Australia. Reporting by Michael Hogan, Hamburg; Gus Trompiz, Paris. Mark Potter is the editor.

(source: Reuters)