Future of Egypt, Egypt's state grain buyer (Mostakbal Misr), has announced that it will buy at least 200,000 tons of French wheat through recent private agreements with exporters. It also plans to purchase several 30,000-ton cargoes of Ukrainian and Romanian wheat, the company said.

In the meantime, traders said Future of Egypt could have booked up to seven large panmax vessels of French grain, or more that 400,000 tons in the last two weeks. They added that at least one vessel of 63,000 tons was booked for a shipment between September 10-20, with payment made via 270-day letter of credit.

(source: Reuters)