Egypt bought at least two cargoes of Ukrainian wheat last week

around $245–250 per tonne C&F for nearby delivery to Mediterranean ports. On Tuesday, Egyptian buying interest for Ukrainian 11.5% protein wheat was again indicated at about $246–247 per tonne C&F. Traders also mentioned reports that several cargoes of French wheat were recently sold to Egypt for shipment in February/March, in addition to two vessels scheduled to begin loading at the northern French port of Dunkirk. Market participants noted that French and Black Sea wheat prices are currently very close on a C&F basis for the key Egyptian market. “The Black Sea still has a slight price advantage, but this could quickly narrow due to currency movements and developments on Euronext,” one German trader said. Meanwhile, winter-related disruptions to Russian logistics have redirected part of Egyptian demand toward Ukrainian supplies. EU data published on Tuesday showed soft wheat exports from the European Union reached 12.82 million tonnes by February 1 in the 2025/26 season, ...