European traders reported that a group of South Korean mills purchased an estimated 131.300 metric tonnes of milling grain to be sourced in the United States and Canada during an international auction on Wednesday. The amount was higher than the 90,000 tons requested in the tender.

United Grain Corporation is believed to have sold 91,300 tonnes of grain in two consignments.

Bunge claimed to have sold another 40,000 tonnes from Canada.

They said that the purchase included a variety of wheat types, and all were purchased free-on-board (fob).

The U.S. purchased soft white winter wheat with a minimum of 11.5% protein for $243.61 per ton, and northern spring/dark Northern wheat at 14% protein for $266.00 per ton.

A 41,300-ton shipment from the United States included 11,100 tons soft white wheat with a protein content of between 9.5% and 11%, 1,000 tons soft white wheat with a protein level of approximately 9.0%, 11,500 tonnes of hard red winter grain, and 17,700 pounds of northern spring/dark Northern wheat.

The consignment of 50,000 tons included 23,680 tonnes of soft white wheat with a protein content of 9 to 11%, 10,530 tonnes of hard red winter grain and 15,790 kilograms of northern spring/dark Northern wheat.

The two consignments of U.S. Wheat are scheduled for shipment between March 1 and 31.

They said that the Canadian purchase was grade 2 Canadian Western Red Spring Wheat (2CWRS), purchased at $260.18 per ton FOB, and shipped between March 15th and April 15th.

The reports reflect the opinions of traders, and it is possible to estimate prices and volume later.

(source: Reuters)