The Feed Leaders Committee of South Korea (FLC) bought around 60,000 tons of animal feed in a bid for up to 130,000 tonnes on Thursday, European traders reported.

Wheat was estimated to have cost $263.00 per ton, including freight and a $1.25 surcharge per ton for port unloading.

Agrocorp is believed to have been the seller.

The wheat purchased was to arrive in South Korea on or around March 10, 2026. A second consignment up to 65,000 tonnes for arrival in February 2026, also sought by the tender, was not purchased.

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

Wheat can come from anywhere in the world, except for Russia, Argentina China, Pakistan, and Denmark. The loading ports of Russia and Ukraine are not allowed to be used for wheat from any origin.

The shipment of the consignment for March arrival purchased, if sourced from Australia, the U.S. Pacific Northwest Coast, or the Canadian West coast was between January 19 and February 18, whereas the shipment from the U.S. Gulf, or Europe, took place between December 30 and January 29.

Occasionally, European wheat is shipped via Cape of Good Hope to avoid attacks in the Red Sea. This route should be taken from South America, between December 25 and January 24, or from South Africa, between January 9 and February 8. (Reporting and editing by Ros Russell, Michael Hogan)

(source: Reuters)