| Kippreport.com

UAE mill cancels tenders for wheat and corn

August 5, 2010 2:47 by Reuters

A flour mill in Abu Dhabi in the United Arab Emirates has cancelled a tender to purchase 15,000 tonnes of hard wheat and 20,000 to 25,000 tonnes of yellow corn because of high prices, European traders said on Thursday.

“Higher prices are bound to have some impact on consumption,” a trader said.

Preferred origin for the wheat was the United States, Australia, Canada, Kazakhstan and Europe for Sept. 15-Oct. 15 shipment.

Global grain prices have shot up largely because of fears of drought damage to the crop in key exporter Russia.

The tender was originally scheduled to close on July 29 but bidding was extended to Monday, Aug. 2.

(Reporting by Michael Hogan; editing by Keiron Henderson)

Tags: global grain prices, UAE mill, uae wheat and corn