Egypt’s GASC bought about 63,000 tonnes of German wheat

CAIRO/HAMBURG: Egypt’s state grains buyer GASC purchased about 63,000 tonnes of German-origin wheat in a direct deal this week, sources said on Thursday.

It was believed the purchase was made on July 5, continuing recent buying by GASC without international tenders being issued.

GASC is also believed to have bought around 444,000 tonnes of wheat directly from trading houses on Monday.

Traders said the German sale was believed to involve a shipload of old crop wheat for prompt shipment.

Unconfirmed market talk was of a price at around $420 c&f from Germany. This would be above the $416 a tonne c&f reportedly paid by GASC in direct purchases of French, Russian and Romanian wheat on Monday.