- Brief update this afternoon as the US is celebrating another holiday – Martin Luther King Day and markets there are closed.
- On Saturday Egypt’s GASC purchased another 235,000 mt of wheat, for mid-February shipment, Russia securing 175,000 mt and Romania the balance of 60,000 mt. Season to date purchases now stand at 3.41 million mt and this tranche cost an average of $199.81/mt basis C&F (the Romanian purchase came in at just over $200/mt), which is around $2/mt more than their last purchase partially attributable to rising freight costs. Noticeable absentees from the offer lineup included EU (France in particular), US and Argentina.