European traders reported on Friday that South Korean flour mills purchased a total of 92,300 tons of milling grain to be sourced from the United States, in a recent international tender. This is above estimates of 50,000 tonnes.

The traders reported that an additional shipment of 42,300 tonnes of U.S. Wheat was purchased in addition to the initial 50,000 tons.

All the wheat was purchased free-on-board (FOB). It is believed that the 92,300 tonnes were purchased from Bunge.

After the general estimates on Thursday, traders also provided detailed prices for purchases.

The consignment of 50,000 tons was to be shipped between May 1 and 31.

The purchase included 24,500 'tons of soft white wheat with a protein content between 9.5% to 11% at $229.05 per ton FOB; 10,800 tons hard red winter wheat with a protein minimum of 11.5% at $241.05 per ton, and 14,700 tonnes of dark northern spring?wheat at a minimum of 14% at $259.05 per ton.

The second consignment of 42,300 tons was purchased at the same price as the first but for shipment between July 1, and July 31,

The 42,300 ton purchase included 14,000 tons soft white wheat between 9.5% and 11 % protein and 1,400 tonne soft white wheat with 9% protein, all bought for $229.05 FOB.

The shipment also included 12,000 tonnes of hard red winter?wheat with a minimum of 11.5% protein, and 14,900 tonnes of dark northern spring?wheat with a minimum of 14% protein.

The reports reflect the opinions of traders, and it is possible to estimate prices and volumes later. Michael Hogan, reporting from Hamburg and David Goodman editing the report)

(source: Reuters)