NEWS
Egypt Shuns French Wheat
Thu Jan 30, 2014 02:36 PM CST

(Dow Jones) -- French wheat might be good enough for a baguette in Paris, but it no longer passes muster with the baladi-bread bakers of Cairo.

In a decision that has affronted the fraternite of French farmers, Egypt's state grain agency has quietly changed the permissible amount of moisture in wheat that it imports. Helas, the French stuff is too damp.

The Egyptian agency -- known as the General Authority for Supply Commodities, or GASC -- made no public announcement of the change, but traders familiar with the agency's tender process say it will now accept no more than 13% ...

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