Iraq’s state grains buyer is believed to have purchased about 150,000 tonnes of wheat expected to be sourced from Australia in an international tender this week, European traders said in initial assessments on Wednesday.
The purchase was believed to involve around 100,000 tonnes bought at an estimated $461 a tonne c&f and 50,000 tonnes bought at around $496 a tonne c&f.
The tender for a nominal 50,000 tonnes had closed on Dec. 18 seeking wheat sourced either from the United States, Australia and Canada. Volumes in Iraq’s tenders are nominal and the country often buys more than sought in the tender.
Source: Nas Daq