Arab Finance: The Egyptian General Authority for Supply Commodities (GASC) has purchased 480,000 metric tons of Russian wheat in a private deal, four traders told Reuters on September 4th. 

The deal was sealed after successfully negotiating lower pricing than those given in more traditional tenders. 

On a cost and freight (C&F) basis, GASC purchased the wheat from trading firm Solaris on September 1st for roughly $270 per ton. 

The price might go below an unofficial threshold set by Russia's government to keep domestic wheat prices under control, traders added to Reuters.

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