Egypt buys 260,000 tonnes of wheat

by Jay Sjerven
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CAIRO — Egypt’s government wheat buying agency purchased 260,000 tonnes of wheat on Dec. 28 after U.S. wheat futures prices sustained wide declines the day before. Egypt earlier in the week rejected wheat offers as being too high. The purchase included 30,000 tonnes of U.S soft red winter wheat, 30,000 tonnes of Russian milling wheat and 200,000 tonnes of wheat from Kazakhstan. The wheat will be shipped in January and February. In a separate announcement, Egypt confirmed an agreement with Kazakhstan under which Egypt will import 1 million tonnes of Kazakh wheat in 2008.

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