On Friday, European traders reported that a group of South Korean mills purchased an estimated 32,000 tons of milling grain to be imported from the United States.
This purchase included several wheat varieties and all were purchased on a FOB basis (free on board) for shipment between 16 July and 15 August.
They said that they believed the seller to be United Grain Corporation.
Traders said that the purchase included 11,450 tons soft white wheat with a protein content between 9.5% to 11%, purchased at $232 per ton FOB.
The traders also said that 5,750 tons hard red winter grain with a minimum of 11.5% protein were bought for around $234.6 per ton, and 14,800 tonnes dark northern spring wheat with a minimum of 14% protein was bought for around $271.8 per ton.
The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.
On Friday, a separate tender is also held by a group South Korean mills looking for 50,000 tons wheat. (Reporting and editing by Jane Merriman, Michael Hogan)
(source: Reuters)