Egypt's General Authority for Supply Commodities (GASC) bought 420,000 metric tonnes of Russian and Romanian grain in its latest tender on Tuesday, marking the biggest purchase in two years. “After the sales snafu with the ergot fungus earlier, Egypt is now behind on purchases,” Brian Pullam, an analyst at Linn & Associates in Chicago, said by phone Tuesday. “This is a surprising large sale and indicates Egypt needs more wheat.” Egypt purchased between 120,000 and 180,00 tonnes in its two previous tenders. The latest acquisition is the largest since January 2014. The purchase was reportedly worth USD192.18-194.30 per tonne from six companies, including Archer-Daniels-Midland Co and Cargill Inc. The country is expected to purchase 11.8mn tonnes in the current marketing year, down from 11.9mn in the prior season, the US Department of Agriculture said in a report earlier this month. (Bloomberg)