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Sunday, October 2, 2022

South Korea buys 50,000 tonnes of US, Australian wheat

HAMBURG: A group of South Korean flour mills on Wednesday bought around 50,000 tonnes of milling wheat to be sourced from the United States and 50,000 tonnes to be sourced from Australia, European traders said.

The US wheat was bought for shipment between Sept. 16 and Oct. 5, which was slightly earlier than originally sought. The Australian wheat was bought for shipment between Dec. 16 and Dec. 31, they said. The US and Australian wheat was all bought on an FOB basis with a range of types purchased, they said.

The US purchase involved 21,695 tonnes of soft white wheat of about 10.5% protein content bought at around $360 a tonne, 1,115 tonnes of soft white wheat of 8.5% protein bought at around $361 a tonne, 14,590 tonnes of hard red winter wheat of 11.5% protein bought at an estimated $395 a tonne and 12,600 tonnes of northern spring/dark northern spring wheat bought around $380 a tonne.

The US wheat was all said to have been sold by trading house CJ International. The Australian purchase involved 45,085 tonnes of Australian standard white Korean grade (ASWK) bought at about $369 a tonne and 4,915 tonnes of Australian hard (AH) wheat bought at about $392 a tonne. The Australian wheat was said to have been sold by trading house Mitsui.

South Korea buys 50,000 tonnes of US, Australian wheat

Source: Brecorder

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