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|09 January, 2019

Egypt's GASC buys 415,000 T of Russian wheat - trade

GASC said it bought 295,000 tonnes of wheat for a Feb. 20-28 shipment period and 120,000 tonnes of wheat for a March 1-10 shipment period.

Farmers use a threshing machine as they harvest their wheat crop at a field in Minya governorate, south of Cairo, Egypt May 16, 2018.

Farmers use a threshing machine as they harvest their wheat crop at a field in Minya governorate, south of Cairo, Egypt May 16, 2018.

REUTERS/Amr Abdallah Dalsh

CAIRO  - Egypt's state grain buyer, the General Authority for Supply Commodities, bought 415,000 tonnes of Russian wheat in international purchase tender on Wednesday, traders said.

GASC said it bought 295,000 tonnes of wheat for a Feb. 20-28 shipment period and 120,000 tonnes of wheat for a March 1-10 shipment period.

Traders gave the following breakdown of the purchase in dollars per tonne for the Feb. 20-28 shipping period:

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* GTCS: 60,000 tonnes of Russian wheat at $248.00 and $15.45 freight equating to $263.45

* GTCS: 60,000 tonnes of Russian wheat at $249.00 and $15.45 freight equating to $264.45

* Cofco: 55,000 tonnes of Russian wheat at $249.40 and $16.20 freight equating to $265.60

* Aston: 60,000 tonnes of Russian wheat at $250.00 and $15.45 freight equating to $265.45

* Daewoo: 60,000 tonnes of Russian wheat at $250.00 and $13.75 freight equating to $263.75

Traders also gave the following breakdown of the purchase in dollars per tonne for the March 1-10 shipping period:

* GTCS: 60,000 tonnes of Russian wheat at $250.00 and $15.45 freight equating to $265.45

* Garant Logistics: 60,000 tonnes of Russian wheat at $250.50 and $15.45 freight equating to $265.95

(Reporting by Michael Hogan in Hamburg, Maha El Dahan in Dubai, Valerie Parent in Paris and Nadine Awadalla in Cairo; editing by David Evans) ((Nadine.Awadalla@thomsonreuters.com;))

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