European traders reported that a group of South Korean flour mills purchased?an estimated 50 000 metric tonne?of milling?wheat?from the United States on Thursday in an international auction.

The purchase included a variety of wheat types, and all were purchased on a 'free on board' (FOB) basis. The tender requested shipment between May 1 to May 31.

The seller was thought to be a?house Bunge trader.

It was soft white wheat with a protein content between 9.5% to 11%, bought at a price of $220 - $240 per ton FOB. The purchase also included hard-red winter wheat with a minimum protein of 11.5%, bought at a price of low $240s per ton, and dark northern spring grain of a protein of at least?14% purchased in the high $250s per ton. The reports reflect the assessments of traders, and future estimates on prices and volume are possible. (Reporting from Michael Hogan, Hamburg; editing by Tomaszjanowski)

(source: Reuters)