South Korean mills buy estimated 88,260 T wheat from U.S.
A group of South Korean flour mills bought an estimated 88,260 metric tons of milling wheat to be sourced from the United States in an international tender on Thursday, European traders said.
The purchase involved various wheat types for shipment in November and December and was purchased in two consignments, all bought on an FOB basis, they said.
Results of offers for 45,000 tons of wheat from Canada also sought in the tender were still awaited.
One U.S. consignment was said to have been sold by trading house ADM for shipment between Nov. 10 and Dec. 10.
The purchase involved 13,280 tons of soft white wheat of about 9.5% to 11% protein content bought at an estimated $264.68 a ton FOB, 10,300 tons of hard red winter wheat of 11.5% minimum protein bought at $307.67 a ton and 14,680 tons of northern spring wheat of 14% minimum protein bought at $324.94 a ton.
The second consignment was said to have been sold by trading house Viterra for shipment between Nov. 16 and Dec. 15.
The purchase involved 18,875 tons of soft white wheat of about 9.5% to 11% protein content bought at an estimated $265.30 a ton, 15,475 tons of hard red winter wheat of 11.5% minimum protein bought at $301.65 a ton and 15,650 tons of northern spring wheat of 14% minimum protein bought at $321.35 a ton.
Results reflect assessments from traders and further estimates of prices and volumes are still possible later.
Source: Reuters (Reporting by Michael Hogan, editing by David Evans)
