HAMBURG: South Korean flour mills this week purchased an estimated 81,700 tonnes of milling wheat to be sourced from Australia, European traders said on Friday.
The purchase was made by two groups and involved different wheat types for shipment in 2022.
One group bought a total of 50,000 tonnes including about 45,000 tonnes of Korean Australian standard white blend wheat, bought at about $319 a tonne FOB, and 5,000 tonnes of Australian hard wheat grade AH2 at about $338 a tonne FOB.
The wheat was believed to have been sold by trading house Cargill for Feb. 1-28 shipment.
A second group bought a total of 31,700 tonnes involving about 27,000 tonnes of Korean Australian standard white blend wheat, purchased at about $312.50 a tonne FOB, and 4,700 tonnes of Australian hard wheat grade AH2 at about $330.50 a tonne FOB. The wheat for the second group was believed to have been sold by trading house Mitsui for shipment between Feb. 15 and March 15.
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