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

They said that the initial price for first purchases was around $256 per metric ton, including freight. Some estimated the lowest price as $255 per ton, c&f. However, most estimates put it at $256.

It was initially unclear how much the company had purchased in terms of tonnage. The initial estimates ranged from 240,000 tons up to around 500,000 tonnes, with at least 5 trading houses claiming to have sold.

In 2026, the wheat will be shipped in two phases from the main supply areas including Europe: between February 1-15 and 16-28. The shipment date is one month earlier if the wheat comes from South America or Australia.

Algerian purchases are of optional origin, but traders suspect some wheat may have come from Argentina or the Black Sea Region.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

(source: Reuters)