Algeria bought hard wheat at $348-360 per ton delivered on the global market

Published 2024년 11월 22일

Tridge summary

The article provides an overview of the current market prices for wheat exports and the significant purchases of crude by Algeria. It notes that good wheat export prices remain steady at 300-305 euros per ton FOB, with transactions reaching over 450,000 tons. Durum wheat prices in the Foggia price list are unchanged, ranging from 320-325 euros per ton for quality wheat and 310-315 euros per ton for second quality. The article also mentions the Chicago Stock Exchange's upward trend in soft wheat prices due to increased tension in Ukraine, despite the stronger dollar. Additionally, it highlights Algeria's purchase of at least 350,000 tons of crude and the expectation that Canadian wheat will be used, attributed to the high quality and logistics of the purchase. In France, the decrease in the euro's value has improved the competitiveness of European harvests, driving prices towards 220 euros per ton in December.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Regarding the export prices for our harvest, transactions remain at 300-305 euros per ton FOB our port for this year's good wheat. Exports have reached a very high number and are hovering above 450,000 tons and it is reasonable to see the rates falling. In durum wheat, the Foggia price list was unchanged for a sixth week. Specifically, for quality wheat with a specific weight of 79.5-80 kg/hl, vitreous 80% and protein 12-12.5%, the merchant warehouse price is negotiated at 320-325 euros per ton. For the second quality with a specific weight of 78 kg/hl, vitreous 65% and protein 11-11.5%, the merchant warehouse price ranges from 310-315 euros per ton. According to market sources, since there are never official announcements, Algeria bought a large amount of crude (at least 350,000 tons) at prices at the levels of 348-360 dollars per ton depending on the ship delivered to their port. These are the excellent qualities and logically they will be covered with Canadian wheat. On the ...

Source: GRAgronews