Romanian wheat was the cheapest on offer at an Egyptian international wheat tender Monday, according to a lineup of offers seen by The Wall Street Journal.
The cheapest bid out of a total of 18 bids was $237.94 a metric ton for a 60,000-ton cargo of Romanian wheat.
Egypt’s state import agency–the General Authority for Supply Commodities–launched the tender Saturday, saying it was seeking an unspecified amount of wheat for shipment between Sept. 1 and Sept. 15.
GASC received eight bids of Romanian wheat, five of Russian wheat, and five of Ukrainian wheat.
Romanian offers ranged in price from $237.94 to $243.50 a ton. Ukrainian bids ranged in price from $239.45 to $246 a ton. Russian bids ranged from $238.10 to $245 a ton.
Egypt is the world’s largest wheat importer and market participants view the country’s tenders as a guide to setting benchmark prices.
At an international wheat tender last month, GASC bought 180,000 tons of Romanian wheat for $242.93 a metric ton plus freight costs of $27.85 a ton.