Algeria’s state grains agency OAIC is believed to have bought milling wheat in an international tender on Thursday which sought limited shipment to two ports only, European traders said.

Purchases reported were around $269 to $269.50 a metric ton cost and freight (c&f) included, they said. No estimates of tonnes bought were initially available, with a nominal 50,000 metric tons sought.

Traders suspected that Russian-origin wheat had been offered cheapest in the tender. The purchases were said to have been concentrated on the August shipment position sought.

The requirement in the tender to unload the wheat only in the ports of Mostaganem and/or Tenes in two port tenders from the OAIC generally signals that a relatively small purchase will be made, traders said.

The wheat was sought for shipment in several periods from the main supply regions including Europe: Aug. 1-15, Aug. 16-31, Sept. 1-15 and Sept. 16-30. If sourced from South America or Australia, shipment is one month earlier.

Results reflect assessments from traders and further estimates of prices and volumes are still possible later.

Source: Reuters