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Egyptian wheat purchases are being slowed by an inspection dispute, with suppliers adding premiums of up to $500,000 per cargo to cover risks. Egypt expects to buy about 7 million tonnes of wheat in the fiscal year that began in July.
Higher cargo premiums raise the effective cost of wheat for Egypt's state buyer and add millions to the food subsidy bill. Delays or added costs can tighten near-term import demand and support wheat offers from alternative origins.
reuters.comEric KnechtOct 17, 2017After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
