European traders reported on Thursday that the leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) had issued a tender for up to 65,000 tons of animal feed grain.

Also, the deadline for submitting price offers is Thursday, August 7.

The wheat will arrive in South Korea as a consignment between 50,000 to 65,000 tons on or around November 15. The seller is free to choose the exact volume within this range.

You can source it from anywhere in the world, except for Russia, Argentina and Pakistan. Also, Denmark, China, and Denmark are not allowed. The Black Sea ports of Russia and Ukraine are not allowed to be used for wheat that is sourced locally, or even from another origin. However, loading from Russian Far Eastern port is allowed.

Shipments are needed between October 8 and 27 if the source is from the U.S. Pacific Northwest Coast, Australia, or Canadian West coast. If sourced from the U.S. Gulf Coast or Canadian East coast, shipment will be between September 18 and 7th.

Shipments from Europe are between September 23 and December 12. The European wheat that is routed through the Cape of Good Hope to avoid the Red Sea attacks, which are increasing, should be shipped between September 3 and 22.

Shipments of wheat from South America or South Africa should take place between September 13 and 2 October.

The offers are being sought as outright costs per ton and freight included, or a premium on Chicago December wheat futures.

The Chicago Wheat Futures have hit a five-year low this week, as global supplies of recent wheat harvests from the United States and Black Sea Region have flooded the markets.

Feed Leaders Committee of South Korea (FLC) purchased 60,000 tons animal feed wheat on Wednesday. The wheat could be from anywhere in the world. Michael Hogan, reporting; David Goodman, editing

(source: Reuters)