Traders in Europe reported that Algeria's OAIC, the state grains agency, bought milling wheat amidst an international tender which closed on Tuesday.

They reported that purchases were between $259 and $250 per metric ton with cost and freight included. The earlier reports of trades for $257 have not been confirmed.

It was initially unclear how much the company had purchased in terms of?tonnage, but some estimates indicated that it could have been several hundred thousand tonnes.

Traders said that the tender negotiations will continue on Wednesday, after a break of two days for fasting during Ramadan.

Algerian purchases are of optional origin, but traders were expecting a significant share from the Black Sea region.

Traders reported that they thought French wheat had been excluded again from the tender. Since mid-2024, French wheat sales in Algeria have been virtually halted due to diplomatic tensions between Paris & Algiers.

Wheat was requested for shipment from three main regions including Europe, April 16-30, May 1-15, and May 16-31. When the wheat is sourced from South America, or Australia, it will be shipped one month sooner.

The reports?reflect the assessments of traders, and future estimates?of volumes and prices are possible. Algeria purchased?around 600,00 tons of milling wheat at a price of $254 per ton c&f in its previous tender. Mark Potter and Rod Nickel edited the article.

(source: Reuters)