Pakistani state importer TCP has received offers for November-loading wheat cargoes as part of its 185,000t buy tender that closed on Monday.
Cargoes were offered at $339.36-354.83/t cfr Karachi by 12 trading firms, with Bunge making the lowest-price offer, according to market participants (see table).
TCP sought wheat for shipment in the first half of November for arrival no later than 15 December. The tender was issued after TCP booked just 365,000t of its requested 750,000t in a separate tender earlier this month.
The most competitive price in this tender is $9.47/t below the procurement price in Pakistan's 16 September tender, with trading firms asked to drop their offers in line with the lowest price received in the previous line-up.
TCP is requesting wheat with a minimum 10pc protein content, and no specifications for dough strength (W). French wheat could become competitive this time round on lower Paris-listed milling wheat futures in the past week. November-shipping French 11pc wheat has fallen steadily in line with the underlying contract to $271/t fob Rouen on 25 September, while Romanian-Bulgarian wheat remains another likely origin, particularly as sellers continue to seek outlets for heavy supplies of lower-protein, lower-W wheat at Constanta-Varna-Burgas (CVB).
| Grains, oilseeds and veg oils tenders | ||||||||
| Buyer | Issued | Closes | Status | Cargo | Shipment/delivery | Price | Seller | Notes |
| Jordan's MIT | 17-Sep | 30-Sep | Open | 100,000-120,000t feed barley | January-February 2027 | cfr Aqaba | ||
| Pakistan's TCP | 19-Sep | 28-Sep | Closed | 185,000t milling wheat | 1-15 November | cfr Karachi/Gwadar | ||
| Tunisia's ODC | 22-Sep | 23-Sep | Closed | 125,000t milling wheat | 10 Nov - 15 Dec | $311.72-314.23/t | Buildcom, Soufflet | cfr |
| Tunisia's ODC | 22-Sep | 23-Sep | Closed | 75,000t feed barley | Nov | $304.23-307.62/t | Soufflet, Al Ghurair, Bunge | cfr |
| Jordan's MIT | 16-Sep | 22-Sep | Closed | 60,000t milling wheat | 1h November | $332/t | Buildcom | cfr Aqaba |
| Pakistan's TCP | 8-Sep | 16-Sep | Closed | 365,000t milling wheat | 11-30 October | 349 | Agrocorp, Ameropa, Aston, Bunge, CHS, Falcon Bridge, LDC | cfr Karachi/Gwadar |
| Offers in TCP's 28 Sep milling wheat tender | ||
| Trading firm | Volume (t) | Cfr Karachi price ($/t) |
| Agrocorp | 60,000 | 343.74 |
| Al Ghurair | 60,000 | 349.00 |
| Ameropa | 60,000 | 343.47 |
| Aston | 60,000 | 354.83 |
| Bunge | 60,000 | 339.36 |
| CHS | 60,000 | 345.00 |
| Falconbridge | 60,000 | 347.49 |
| LDC | 120,000 | 346.50 |
| Mera | 120,000 | 346.19 |
| Olam | 60,000 | 341.88 |
| Saif | 60,000 | 350.53 |
| Soufflet | 120,000 | 354.82 |
