Saudi Arabia, Egypt boost world wheat buying
Mubasher Arise in wheat buying by major importers gathered pace, as Egypt and Saudi Arabia bought nearly 1 million tons between them in two days, according to Agrimoney website. Saudi Grain Silos & Flour Mills Organization (GSFMO) said it had purchased 780,000 tons of soft and hard wheat for shipment from September 10 until the end of November. This represents an unusually large order even for GSFMO, which two weeks ago estimated it would import 2.7 million tons of wheat this year, up 100,000 tons in 2013. Egyptian tender The order comes two days after Egypts General Authority for Supply Commodities (GASC) bought 180,000 tons of Romanian and Russian wheat at tender, taking its total this year to some 5.4 million tons, at a cost of more than $1.5 billion.