South Korean mills buy about 77,000 tonnes of U.S. wheat

Two groups of South Korean flour mills bought a total of about 77,000 tonnes of milling wheat to be sourced from the United States in two international tenders on Tuesday, European traders said.

The purchases both included several different wheat types, all bought on an FOB basis. Trading house United Grain Corporation sold both consignments.

The first consignment was an estimated 45,000 tonnes, they said.

The first purchase was soft white wheat of about 9.5% to 10.5% protein content bought in the low $340s per tonne, soft white wheat of 8.5% protein also bought in the low $340s a tonne, hard red winter wheat of 11.5% protein bought in the mid-$410s a tonne and northern spring/dark northern spring wheat of 14% protein bought in the low $400s a tonne.

The first consignment was for shipment from the United States between Dec. 16 and Jan. 15.

The second purchase involved soft white wheat of about 9.5% to 10.5% protein content bought at just over $340 a tonne, soft white wheat of 8.5% protein bought in the high $340s a tonne, hard red winter wheat of 11.5% protein bought around $415 a tonne and northern spring/dark northern spring wheat of 14% protein bought at about $403 a tonne.

Tags: tender, wheat, USA