Hamburg | Reuters — Iraq’s state grains board has purchased 200,000 tonnes of hard wheat to be sourced from Canada, the U.S. and Australia in an international tender for at least 50,000 tonnes, European traders said on Monday.
The purchase comprised 100,000 tonnes of Canadian wheat, 50,000 tonnes of U.S. wheat and 50,000 tonnes of Australian wheat, they said.
The Canadian wheat was purchased from trading house Richardson at $331.65 a tonne c+f free out (ciffo), traders said.
Trading house ADM sold 50,000 tonnes of U.S. wheat at $333.87 a tonne ciffo and ADM also sold 50,000 tonnes of Australian wheat at $325.93 a tonne ciffo, they said.
The tender had closed on Dec. 21 with offers having to remain valid until Dec. 25.
Traders had expected Iraq to make a large purchase in the tender following a period of restrained grain imports. The impact on Iraq’s agriculture and food supplies from the conflict with the Islamic State is still unclear.
Volumes in Iraq’s wheat tenders are nominal and the country frequently buys more than it tenders for.
— Reporting for Reuters by Michael Hogan in Hamburg.