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Canadian wheat lowest in Iraq tender — trade

Hamburg / Reuters — Canadian wheat was offered lowest at $323.40 a tonne c&f free out (ciffo) in the tender from Iraq’s state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday.

The tender closed on Sunday and offers must remain valid up to Thursday, Nov. 6, traders said.

Wheat from the United States, Canada, Australia, Ukraine or Russia was sought. No purchase has yet been made, traders said.

The Canadian offer was made for 100,000 tonnes, traders said.

Lowest offer for Australian wheat was $331.22 a tonne ciffo, they said.

Lowest offer for Russian wheat was $336.50 a tonne ciffo, no offers were made for Ukrainian wheat, traders said.

United States-origin wheat was offered lowest at $352.70 c&f liner out, they said.

Free out and liner out terms have differing provisions for ship unloading costs.

The wheat was sought for shipment Dec. 1-30, 2014, with arrival between Dec. 31, 2014, to Feb. 13, 2015, they said.

Volumes in Iraq’s wheat tenders are nominal and the country frequently buys more than it tenders for.

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