HAMBURG (Nov 12) - A leading South Korean animal feed manufacturer, Nonghyup Feed Inc. (NOFI), purchased approximately 75,000 metric tonnes of animal feed wheat at an international auction on Wednesday, European traders reported.

Two consignments of wheat were purchased for delivery to South Korea on or around February 15.

A total of 60,000 tons of grain to be imported from around the world was purchased at a cost and freight price of estimated $265.50 per ton plus $1.30 for port unloading. Trading house Agrocorp was thought to be the seller.

A second consignment weighing about 15,000 tonnes was purchased at a price estimated to be $255.90 per ton c&f.

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

Wheat can come from anywhere in the world, except for Russia, Argentina and Pakistan. Denmark, China, and Denmark are also excluded. 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 January 8 and 27 if the source is from the U.S. Pacific Northwest Coast, Australia, or Canada. If sourced from the U.S. Gulf Coast, shipment will be between December 19 and 7th.

Shipments from Europe are between December 24 and 12 January. Shipments of European wheat via Cape of Good Hope (often undertaken to avoid attacks against shipping in the Red Sea) should be made between December 4 and December 23.

Shipments of wheat from South America are to be made between December 14 and February 2. South Africa's shipment period is December 29 to January 17. Reporting by Michael Hogan, Hamburg Editing by David Goodman

(source: Reuters)