Egypt's Grain Procurement Surge: A Global Wheat Watch

In a major move, Egypt's state grains buyer, one of the globe's largest importers, has secured substantial wheat imports for delivery in the upcoming months of July and August, according to traders and sources speaking with Reuters.

The precise volume remains undisclosed, but estimates suggest the purchase involves several hundred thousand metric tons. After a notable decrease in wheat purchases during the year's first half, following abundant shipments in late 2024, the recent transactions reflect a notable shift.

Sources indicated that the wheat is primarily sourced from Russia, Ukraine, and Romania, with prices ranging from $250 to $258 per ton, including cost and freight. Negotiations are also reportedly in progress with other EU suppliers to hedge against supply fluctuations.

(With inputs from agencies.)