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Monday, September 19, 2016

Egypt Announces Tender to Buy Wheat; Few Offers Expected

(Dow Jones) -- Egypt's state grain buyer, the General Authority for Supply Commodities, announced Thursday a tender to buy wheat.
The world's biggest wheat importer was seeking to buy an unspecified amount of wheat from global suppliers for shipment from Oct. 15 to 25.
The results of the tender--the eighth since Egypt started importing wheat in July following the end of its domestic harvest--are expected Friday.
The previous tender, on Aug. 30, didn't result in a purchase being made, as suppliers declined to make offers after Egypt reinstated its controversial ban on the ergot fungus.
Traders expect few offers in the latest tender. Suppliers are cautious about having their grain rejected by Egypt for containing the fungus, which is dangerous in large amounts but tolerated in small traces under international standards.