Egypt’s October wheat imports nearly triple, corn imports fall 35%

Egypt took in 985,425 metric tons of wheat in October 2026, a near tripling from September but down 47% compared to the same month last year. Russia once again led imports, with 403,245 mt shipped, up 272% from October 2025. Latvia and Lithuania each handled notable portions of Russian wheat imports. Ukrainian wheat shipments nearly doubled to 269,070 mt, comprising 27% of total imports.

Romania's contributions grew by 68% to 138,253 mt, while Bulgaria and Moldova supplied 30,462 mt and 5,877 mt respectively. Traders watch Egypt's market as it awaits potential reactivation of Black Sea exports. Wheat basis in the East Mediterranean was at $307/mt on Oct. 30, a $11/mt decrease from the previous week. The Egyptian pound hit a record low of 56/$1, and ex-warehouse wheat prices fell between EGP 17,500-18,000/mt for Russian wheat.

State sales to private mills at EGP 16,650/mt were lower than ex-warehouse prices, contributing to the price drop. The first four months of the marketing year saw 2.37 million mt imported, compared to 5.26 million mt in the same period last year. Imports totaled 9.2 million mt since January, just 600,000 mt short of last year's level.

All arrivals between July and October were purchased by private buyers. State buyers are expected to resume in November following purchases of French and Romanian wheat. The Milling Wheat Marker averaged $202.59/mt in October, down from $211.73/mt in September. Corn imports fell 35% month over month and 42.2% year over year in October 2026, with 777,269 mt imported.

Brazilian corn dominated, supplying 746,178 mt, followed by limited Argentinian and Ukrainian corn. Domestic corn prices were $10/mt cheaper than international stocks, limiting fresh buying. Market participants anticipate further slowdown in November imports due to currency fluctuations and sufficient warehouse stocks.