Jordan takes advantage of price dip to buy 50,000 mt of wheat

Jordan’s state grain agency JSSGC returned to the market Tuesday to buy 50,000 mt of milling wheat, having repeatedly passed on previous tenders due to high prices, market sources said.

JSSGC bought the cargo from CHS for $222.50/mt CIF Aqaba, which is to be shipped during the second half of August.

With the tender originally looking for 100,000 mt, Ameropa also offered 50,000 mt at $230.80/mt CIF, although JSSGC passed on the offer.

Jordan has repeatedly skipped on its tenders this marketing year, pulling back from deals to buy wheat and barley as it balked at prices that have shot up around the world on tightening supply and weather concerns.

But global wheat futures have fallen in recent weeks as rains started to fall across drought-stricken areas of North America, easing supply fears and leaving HRW prices 16% below highs seen at the start of March.