# Exclusive: Egypt in talks for Emirati funding to buy Kazakh wheat -traders | Reuters

> Egypt is reportedly negotiating Emirati funding to buy Kazakh wheat, according to traders. The move would offer a cheaper alternative to Russian grain, which has recently blocked a purchase below an unofficial price floor.

- Date: 2023-09-21 · published 2023-09-21T12:00:00.000Z
- Category: trade · region Egypt · magnitude low
- Page: https://feedsoft.ai/events/34142-exclusive-egypt-in-talks-for-emirati-funding-to-buy-kazakh-wheat-traders-reuters
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Diversifying import demand toward Kazakh supply could loosen Russia's pricing power and add competition in Black Sea-adjacent wheat markets.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-12-29 | [Egypt haggling back in full force as world awash with wheat](https://feedsoft.ai/events/73531-egypt-haggling-back-in-full-force-as-world-awash-with-wheat.md) | +0.3% | +1.8% |
| WHEAT | 2019-02-21 | [Tender in Egypt has further reduced the price of wheat](https://feedsoft.ai/events/6778-tender-in-egypt-has-further-reduced-the-price-of-wheat.md) | -3.2% | +0.7% |
| WHEAT | 2017-08-17 | [Wheat prices dropping internationally spark interest of Egyptian buyers](https://feedsoft.ai/events/11619-wheat-prices-dropping-internationally-spark-interest-of-egyptian-buyers.md) | -3.8% | +2.3% |
| WHEAT | 2022-11-09 | [Wheat prices continue to fall amid USDA report and cancellation of tender in Egypt](https://feedsoft.ai/events/38715-wheat-prices-continue-to-fall-amid-usda-report-and-cancellation-of-tender-in.md) | +1.1% | -9.0% |
| WHEAT | 2021-02-26 | [Fundamental factors stopped speculative price increases for wheat](https://feedsoft.ai/events/48662-fundamental-factors-stopped-speculative-price-increases-for-wheat.md) | +1.2% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/egypt-talks-emirati-funding-buy-kazakh-wheat-traders-2023-09-21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.