South Korea's MFG buys about 130,000 tonnes of feed wheat
- The feed wheat was purchased in two 65,000 tonne consignments at an estimated $282.86 a tonne c&f for arrival in South Korea around Aug. 24 and at $275.14 a tonne c&f for arrival in South Korea around Sept. 24.
- If the August arrival consignment is sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between July 21 and Aug. 9.
HAMBURG: South Korea's Major Feedmill Group (MFG) purchased about 130,000 tonnes of optional-origin animal feed wheat in a tender on Friday, European traders said.
The feed wheat was purchased in two 65,000 tonne consignments at an estimated $282.86 a tonne c&f for arrival in South Korea around Aug. 24 and at $275.14 a tonne c&f for arrival in South Korea around Sept. 24. Both have an additional $1.50 a tonne surcharge for additional port unloading, the traders said.
Seller of all the wheat was believed to be trading house Viterra.
If the August arrival consignment is sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between July 21 and Aug. 9. If sourced from the US Gulf or Black Sea region, shipment is sought between July 1 and July 20, and from South America it is sought between June 26 and July 15.
If the September arrival is sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between Aug. 21 and Sept. 9. If sourced from the US Gulf or Black Sea region, shipment is sought between Aug. 1 and Aug. 20, and from South America it is between July 27 and Aug. 15.
In its previous reported wheat tender on Feb. 18, the MFG purchased about 55,000 tonnes at $309.38 tonne c&f plus a $1.50 a tonne surcharge for additional port unloading.
The MFG also bought 68,000 tonnes of corn to be sourced either from South America or South Africa in a tender on Thursday.
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