A group of importers in the Philippines purchased about 224,000 tonnes of feed wheat in a tender for the same volume that closed on Thursday, European traders said. Origins included the Black Sea region and Australia. The wheat was bought in four 56,000-tonne consignments for shipment between July and August.
One consignment expected to be sourced from Australia was said to have been purchased at around $248 a tonne c&F. The seller was believed to be trading house ADM. A second consignment expected to come from the Black Sea region was said to have been purchased at around $224 a tonne c&F. Trading house COFCO was believed to be the seller.
Two more consignments from optional origins were said to have been purchased both at around $219 a tonne c&F, with trading house Olam said to be the seller. "Black Sea feed wheat continues to make inroads into Asian markets because of its price advantage," one European trader said. "I expect more sales to be made."
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