South Korea buys feed wheat
Today, August 5, South Korea’s Major Feedmill Group (MFG) purchased 65,000 tonnes of feed wheat from the US in a private deal with Pan Ocean.
The purchase price was $261.75 C&F plus a $1.25 per tonne surcharge for unloading at a second port. The wheat will arrive in South Korea by November 7, 2025.
Prices for US red wheat are now lower than a year earlier. “Importers are looking for the lowest cost and largest volume suppliers of wheat. It is not surprising that US wheat sales to Asia are growing,” said an unnamed European trader. “Unexpectedly high prices for the new crop are preventing Ukraine and Russia from selling their wheat in Asia.”
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