European traders reported on Thursday that South Korean flour mills purchased an estimated 90,000.?metric tons?of milling wheat?to be sourced from the United States in a?international?tender held on Wednesday.

The purchase was higher than the earlier estimate of 50,000 tonnes. This purchase included several wheat varieties and all were purchased on a 'free on board (FOB basis).

Bunge is believed to have sold 'all the wheat,' traders said.

The purchase was split into two separate consignments.

They said that 50,000 tons of the 50,000 tonnes was to be shipped between August 1 and August 31. The second shipment of 40,000 tons is scheduled to be shipped between August 20 and October 20.

Both consignments were purchased at $235.05 per ton FOB for soft white wheat with a protein content between 9.5% and 11%, while the other was?soft wheat with a maximum of 9% protein at $239.05.

The traders also said that?hard-red winter wheat with a minimum of 11.5% protein was purchased at $261.05 per ton, and northern spring wheat with a minimum of 14% protein was bought at $283.05 per ton.

The traders?said that both consignments had been purchased at the prices listed. On Wednesday, traders were only able to give approximate estimates.

The reports reflect the?assessments of traders, and future estimates on prices and volume are possible. (Reporting from Michael Hogan, Hamburg; editing by Jane Merriman).

(source: Reuters)