Initial assessments by European traders suggest that the lowest price offered in Friday's international tender for a purchase of?around 125,000?metric tons?of soft wheat?was $271.69 per ton. This includes cost and freight. According to traders, the lowest wheat bid was believed to have been made by Bulgarian company Buildcom in a 25,000-ton shipment.

Trading house Cofco then charged $272.01 per ton?c&f on the entire 125,000 tons soft wheat.

Trading house Casillo submitted the two 'lowest' offers of 50,000 tons durum wheat also sought by?the tender. The lowest offer was $334.49 per ton C&F for 25,000 tonnes and $334.69 per ton C&F for 25,000.

Wheat is needed in five 25,000 ton?consignments, depending on origin.

Durum is sought in two 25,000 ton consignments, depending on origin.

The reports reflect the assessments of?traders, and it is still possible to estimate prices and volumes later.

The offers are still under consideration and no purchase has been reported. If the conditions are not attractive, then even the lowest offer is not accepted. Harikrishnan Nair, Harikrishnan Hogan and Michael Hogan report from Hamburg.

(source: Reuters)