European traders reported on Thursday that Algeria's state grain agency OAIC purchased between 700,000.00 and 750,000 metric tonnes of milling wheat at an international auction on Wednesday.

The estimate of 600,000 tonnes by traders on Wednesday evening was lower. Estimates were as high as 800 000 tons.

The same traders reported prices between $241 and $244 per ton, cost and freight included (c&f), as they did on Wednesday evening.

Algerian purchases in tenders can be of optional origin. However, traders suspect that wheat from the Black Sea area, including Russia Ukraine and Bulgaria will be supplied.

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

In 2024, the wheat would be shipped in two phases from Europe and other major supply regions. The first period was Sept. 1-15; the second Sept. 16-30. The shipment date is one month sooner if the wheat comes from South America or Australia.

Algeria is a major buyer of wheat from Europe, particularly France, but Russian exporters are expanding rapidly on the Algerian market. Reporting by Michael Hogan, Hamburg, and Gus Trompiz, Paris