South Korean mills buy about 80,000 tonnes wheat from U.S.

HAMBURG: A group of South Korean flour mills bought around 80,000 tonnes of milling wheat to be sourced from the United States in a tender on Wednesday, European traders said.

A range of different wheat types were bought by the mills for shipment in 2021 in two periods, between Feb. 16 and March 15 and also between March 1-31, they said.

Some 50,000 tonnes was bought for Feb. 16 and March 15 shipment was bought on FOB terms from Columbia Grain International, they said.

This involved 22,080 tonnes of soft white wheat of a maximum 10.5pc protein bought at an estimated $245.66 a tonne, 2,340 tonnes of soft white wheat of maximum 8.5pc protein at $258.17 a tonne, 12,170 tonnes of hard red winter of a minimum 11.5pc protein bought at $270.22 a tonne and 13,410 tonnes of northern spring wheat of 14pc minimum protein bought at $264.33 tonne.

Buyers of the first consignment included the mills Sajodongaone, Samyang and Daesun.

Columbia Grain was also believed to have sold a total of about 30,000 tonnes for shipment between March 1-31 also on FOB terms.

This included soft white wheat of a maximum 10.5pc protein bought at around $245.89 a tonne, soft wheat with a maximum 8.5pc protein bought at $258.39 a tonne, hard red winter of a minimum 11.5pc protein bought at $270.44 a tonne fob and northern spring wheat of 14pc minimum protein bought at about $263.45 a tonne.

The Taiwan Flour Millers' Association also purchased an estimated 82,220 tonnes of milling wheat to be sourced from the United States in a tender which closed on Wednesday, European traders said.