European traders reported that a group of 'South Korean flour mills' bought an estimated 50,000 metric tons of'milling wheat? to be sourced from United States at an international auction on Friday.

The purchase included several different types of wheat and all were purchased on a FOB basis. They said that the tender requested shipment between July 1 and 31.

The seller was thought to be a trading house called?Bunge.

Traders said that the purchase was?soft wheat with a protein content between 9.5% and 11%, purchased at a price of $230 per ton FOB.

The traders said that the hard red winter wheat with a minimum of 11.5% protein was bought for as low as $260 a ton, and the dark northern spring?wheat had a minimum of 14% protein.

On Wednesday, Korean mills also purchased 32,000 tons U.S. Wheat.

The reports reflect the 'assessments of traders and that further estimates of prices and volumes may be made later. (Reporting from Michael Hogan, Hamburg; editing by Joe Bavier.)

(source: Reuters)