Thailand rejected all offers to buy feed wheat

A group of importers in Thailand is believed to have rejected all offers and made no purchase in an international tender for a nominal 55,000 metric tons of animal feed wheat which closed on Wednesday, European traders said in initial assessments.

Prices were regarded as too high. Lowest price offer was believed to be around $275 a metric ton c&f for September shipment and around $285 a metric ton for November/December shipment. But with wheat futures continuing to fall, importers are expecting to buy more cheaply if they delay purchases, traders said.

The group had asked for offers for consignments of around 55,000 tonnes for shipment monthly between September and December but had not been expected to buy the full volume sought, traders said. Results of negotiations reflect assessments from traders and further estimates are still possible later.

Tags: tender, wheat, Thailand