Initial assessments by European traders indicate that a group of Thai importers rejected all bids and did not purchase any animal feed wheat in a recent international tender which ended on Wednesday.

Prices were considered to be too high. The traders said that the lowest prices were around $260 a ton, cost and freight included.

The shipment was requested in a single consignment for a number of combinations between October, November and December.

Traders said that the group had issued numerous feed wheat tenders over the past few weeks, but there were no reported purchases because feed wheat prices were higher than expected - especially in countries exporting feed wheat to the Black Sea. Michael Hogan reports.

(source: Reuters)