European traders reported that a group of South Korean mills purchased an estimated 50,000 tons of milling grain to be sourced in the United States at an international auction on Friday.

The purchase included several wheat varieties and all were purchased on a FOB basis (free on board) for shipment between 15 August and 16 September.

They said that they believed the seller to be CJ International.

The traders reported that the purchase included 24,210 tons between 9.5% to 11% of protein-rich soft white wheat, purchased at $228.30 per ton FOB.

The traders also said that 12,150 tons hard red winter grain with a minimum of 11.5% protein were purchased at $236.29 per ton FOB. And 13,640 tons dark northern spring wheat with a minimum of 14% protein was bought at $270.00 per ton FOB.

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

Traders said that a group of South Korean mills bought 32,000 tonnes of wheat from America on Thursday. (Reporting and editing by Michael Hogan)

(source: Reuters)