European traders reported that Algeria's state grain agency OAIC had?purchased milling wheat at an?international?tender which?closed?Monday.

Initial reports indicated that the cost of a metric tonne, including freight and other charges (c&f), was around $254.

At first, the size of the order in tonnage was not clear.

Algerian purchases are of optional origin, but traders suspect the wheat could have been sourced from Argentina which is offering extremely low prices for its new large crop.

Wheat was requested for shipment during?two time periods, from the main regions of supply including Europe. These were:?March 16-31 and March 1-15. When originating?from South America, or Australia, the shipment will be one month earlier.

The reports reflect the?assessments of traders, and future estimates of volumes and prices are possible. Reporting by Michael Hogan, Hamburg; Gus Trompiz, Paris. Editing by.

(source: Reuters)