South Korea's MFG passes in 65,000 tonnes feed wheat inquiry

HAMBURG: South Korea's Major Feedmill Group (MFG) rejected offers for around 65,000 to 69,000 tonnes of feed wheat a private purchase inquiry on Monday without an international tender being issued, European traders said.

The volume to be bought was open to negotiations. Arrival was sought in South Korea around Nov. 30 but the MFG would consider different dates if prices were cheaper.

The MFG had a target of $210 a tonne c&f including a surcharge for additional port unloading, traders said. A new purchase inquiry is expected from the MFG on Tuesday.

Chicago wheat futures rose over 4 percent on Friday amid concerns about rain-damaged winter crops in the US and stalled spring wheat seeding due to rain.