Algeria’s OAIC returns to the market for March wheat

Algeria’s state grain buyer OAIC was back in the market Thursday, looking for 50,000 mt wheat for March delivery, trading sources said.

Sources speaking to Agricensus speculated French- or Argentinian-origin wheat was the most likely winner.

Argentinian wheat is currently offered in the region of $181/mt FOB Up River for March shipment, with freight to North Africa approximately $19/mt.

French wheat, meanwhile, is in the region of $197/mt FOB Rouen, with freight to North Africa also said to be around $19/mt by market sources.

OAIC, Algeria’s state grain trader, does not publish the results of its tenders and regularly buys more than the nominal amount it is said to be seeking.

At its previous tender in late November 2017, OAIC bought 570,000 mt of wheat at $208.75-$210.50/mt CFR for shipment in February.