Traders have told Reuters the price could possibly be below an unofficial floor set by Russia's government to control domestic wheat prices. Other Russian wheat suppliers submitted offers on Friday at a free-on-board price of $265 per metric ton, believing it to be the set price floor, and a C&F price that exceeded $270 per ton. Traders told Reuters the price floor was not legally binding but that suppliers were expected to follow instructions from Russia's agriculture ministry. There is a lack of clarity in the market about the level of the Russian minimum floor price. GASC had also privately bought one cargo of Bulgarian wheat at $270 per ton C&F on Friday.

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Persons: Mohamed Abd El Ghany, GASC, Sarah El Safty, Michael Hogan Organizations: REUTERS, Rights, General Authority for Supply Commodities, Solaris, Reuters, Traders, Abu, Abu Dhabi Exports Office, Thomson Locations: Al Qalyubia Governorate, Egypt, Rights CAIRO, Ukraine, Abu Dhabi, UAE