European traders reported on Wednesday that a group of South Korean flour mills purchased?an estimated?32,000 metric tonne of?milling?wheat to be sourced in the U.S.

The purchase involved several wheat types and was made on a FOB basis. They said the tender requested shipment between July 15-31.

The seller was believed to be trading house United Grain Corporation.

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

The traders also said that dark northern spring and hard red winter wheats with a minimum of 14% protein were bought at a price of low $270s per ton FOB.

The reports reflect the assessments of traders, and future estimates of prices and volumes may still be possible. Reporting by Michael Hogan from Hamburg. Mark Potter (Editing)

(source: Reuters)