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Iran seeks European wheat
Iran is seeking at least 50,000 tonnes of French or German bread-making wheat and may also have bought a significant quantity of grain elsewhere, European traders said.

A tender notice for the French and German wheat, for mid-April to mid-May shipment, has been published on the Government Trading Corporation's (GTC) website.

Traders said they believed any European wheat purchase would be the first by Iran for several years.

They said Iran may also have bought close to one million tonnes of Canadian and Australian wheat for nearby shipment.

One trader said 500,000 tonnes of Canadian wheat was bought at $144.50/tonne FOB and 420,000 tonnes of Australian wheat at $134.5/tonne FOB.

Another GTC tender for 50,000 tonnes of Kazakh milling wheat with shipment periods also from mid-April to mid-May was still open, traders said. The bidding deadline was extended last week.

Iran was self-sufficient in wheat last year, but officals there have said Tehran would return to the world grain market if consumption rose sufficiently.

European traders said in light of the good weather conditions for Iran's crop and its supply/demand balance, Tehran looked to have no immediate need to replenish its stocks.

'The purchase could be more a preventive move than an immediate stock problem,' one trader said
MGR Archive 12.3.2006
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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