Russia, helped by rouble retreat, tightens grip on Egyptian wheat orders.

Russia extended into a third month its clean sweep in orders from top wheat buyer GASC, amid a retreat in offer prices, undermined by weakness in the rouble, and increased competition” on international markets. GASC, the grain authority for Egypt, the world’s top wheat-importing country, bought 120,000 tonnes of wheat, taking to 3.79m tonnes its purchases at tender for delivery in 2017-18. Of these, 2.42 MMT have been bought from Russia, which was the origin for all of 08 Nov purchase, comprising one cargo purchased from Archer Daniels Midland and one from Union.