# Tender in Egypt has further reduced the price of wheat

> Egypt's tender price for French wheat was $8-10/t lower than the prior auction, and Chicago March futures fell to an annual low. US wheat did not take part in the tender, and the USDA acreage forecast showed 2019 US wheat area down about 604,000 acres. Paris and Minneapolis futures also declined.

- Date: 2019-02-21 · published 2019-02-21T12:00:00.000Z
- Category: trade · region Egypt · magnitude medium
- Page: https://feedsoft.ai/events/6778-tender-in-egypt-has-further-reduced-the-price-of-wheat
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Lower tender prices from a major importer set a lower benchmark for world wheat, pressuring export values globally. The absence of US supply in Egypt's tender signals weak US competitiveness.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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 | 2022-12-02 | [Wheat wilts in the face of harvest selling pressure \| Stock Journal \| SA](https://feedsoft.ai/events/6646-wheat-wilts-in-the-face-of-harvest-selling-pressure-stock-journal-sa.md) | -9.7% | -1.7% |
| 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 | 2024-03-05 | [Wheat Price Tumbles as Russian Discounts Force Reductions \| CZ app](https://feedsoft.ai/events/7300-wheat-price-tumbles-as-russian-discounts-force-reductions-cz-app.md) | -8.1% | -8.5% |
| KWHEAT | 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) | +1.8% | -8.6% |
| KWHEAT | 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) | +6.1% | +6.0% |
| KWHEAT | 2022-12-02 | [Wheat wilts in the face of harvest selling pressure \| Stock Journal \| SA](https://feedsoft.ai/events/6646-wheat-wilts-in-the-face-of-harvest-selling-pressure-stock-journal-sa.md) | -4.7% | -1.7% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/tender-v-egipti-she-bilshe-zniziv-tcini-na-pshenitcyu.html

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