Initial assessments by European traders indicate that Algeria's state grain agency OAIC bought milling wheat at an international auction which ended on Tuesday.

They reported that the cost of a metric tonne, including freight and cost (c&f), was between $257 and $258.

Initial estimates of the size of the order in terms tonnage were not accurate.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

Wheat was requested for shipment from four main supply regions, including Europe, between February 1-15, February 16-28, and March 1-15. The shipment date is one month sooner if the wheat comes from South America or Australia. Michael Hogan, Hamburg and Sybille De La Hamaide, Paris.

(source: Reuters)