Iraq buys 100,000 mt of hard wheat in international tender

The Iraqi Grain Board purchased 100,000 mt of hard wheat in a tender which closed at the end of last week, market sources confirmed Monday.

With only four companies participating, the state body bought 50,000 mt of Australian-origin wheat at $332.17/mt CIFFO and 50,000 mt of US-origin wheat at $309.95/mt CIFFO.

Both cargoes were said to have been sold by Switzerland-based Ameropa.

Iraq chose to pass on a cheaper offer for Australian wheat at $306/mt CFR for unknown reasons, market sources said.

Other more expensive offers for US volume came in at $337/mt and $364.05/mt CFR.

The tender, originally set for just 50,000 mt, sought wheat from the United States, Canadian or Australian origins but did not receive any Canadian offers.

The Iraqi Grain Board has had a tougher time sourcing wheat this year compared to previous years, after introducing a new payment system and tweaking grain specifications which has kept international players at a distance.