Tunisia tenders for June milling wheat as futures slide continues

Falling futures levels have seen Tunisia’s state grain buyer return to the market looking for milling wheat and barley in a tender set to close Tuesday, market sources said.

Office de Cereales is looking for 125,000 mt of milling wheat for shipment between mid-May and mid-July, and 25,000 mt of barley for shipment in June.

Having rallied at the start of the month, global wheat prices are now in freefall as improved weather conditions in North America allay fears around crop quality. 

Chicago SRW front month futures had lost 6% from an April 10 high to reach $4.6425/bu by 1500 London time, while Kansas City HRW had lost almost 10% to reach $4.7925/bu.

At its previous tender which closed March 23, OdC paid $226.99/mt CIF for 50,000 mt of 11.5% protein milling wheat and $246.24/mt CIF for 25,000 mt of barley.