"It looks like one consignment of Australian wheat may have initially been purchased but no confirmation has been given yet and talks continue," one trader said. "The grain board is seeking a lot of documentation."
The tender from Iraq's state grains buyer sought wheat from the United States, Canada or Australia only and closed on May 7 with offers having to remain valid until May 11.
The cheapest price offered in the tender was $267.17 a tonne c&f free out for wheat sourced from the United States. The lowest offer for Australian wheat was $271.17 a tonne c&f free out, traders said.
Iraq has held several wheat tenders in recent months without announcing a purchase.
The country's government said in April it was negotiating direct contracts for the import of rice and wheat after the failure of recent tenders. Iraq has been suffering financially from low oil prices and continued conflict in the country.
Iraq's cabinet on May 9 authorised the trade ministry to make direct purchases of wheat and rice to guarantee food security.
Iraq had also told wheat and rice suppliers in March that it would pay for their goods in instalments, a move that has reduced the number of participants in its purchase tenders.
Only four companies had offered in the latest tender. Ten or more trading houses have in the past participated in Iraq's wheat tenders.