Egypt GASC Buys 120,000 Tons US, Canadian Wheat; Delivery May 1-10

Egypt's state-owned wheat buyer, the General Authority for Supply Commodities, said Thursday it bought 120,000 metric tons of Canadian and U.S. wheat for shipment May 1-10.

GASC bought 60,000 metric tons of Canadian soft red winter wheat for $263.50 a metric ton from Louis Dreyfus and Co., according to a GASC official. The authority also bought 60,000 tons of U.S. soft red winter wheat from Venus for $261.50/ton.

The following bids were made March 10:

Dreyfus:

60,000 tons soft red winter wheat at $264.94/ton freight on board from St. Lawrence; 60,000 tons soft red winter wheat at $264.88/ton from load port freight on board from Mississippi River.

Toepfer:

60,000 tons soft red wheat at $265.43/ton from U.S. Gulf.

Glencore International PLC (GLEN.LN):

60,000 tons French wheat at $289.90/ton from one or two load ports and 60,000 tons Argentine wheat at $263.90/ton from one or two load ports.

Cargill Inc.:

60,000 tons soft red wheat at $265.77/tons freight on board Mississippi River and 60,000 tons Argentine wheat at $264.45/ton from two load ports.

Bunge Ltd. (BG):

60,000 tons soft red wheat at $267.75/ton from U.S. Gulf.

Venus:

55,000 tons Ukrainian wheat at $275.00/ton for $13.50 freight and 60,000 tons soft red wheat at $261.50/ton freight on board USG.

-By Matt Bradley, Dow Jones Newswires, [phone]