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 Wednesday.

All wheat varieties were purchased on a FOB basis. The tender requested shipment between 15 October and 15 November.

The seller is believed to be CJ International, a trading house.

Traders said that the purchase included soft white wheat with a protein content between 9.5% and 11%, purchased in the low $200s per ton, as well as soft white wheat with a maximum of 9%, purchased in the high $200s per ton, according to the traders.

Traders said that the purchase included dark northern spring and hard red winter wheats of minimum 14% protein, both purchased in the lower $260s per ton FOB.

The reports reflect the assessments of traders, and further estimates on prices and volume are possible later. (Reporting and editing by Bernadette B. Baum, Bernadette Hogan)

(source: Reuters)