MFG buys 63,000 T feed wheat in tender

MFG seeking 132,000 metric tons
calendar icon 3 June 2024
clock icon 1 minute read

South Korea's Major Feedmill Group (MFG) purchased an estimated 63,000 metric tons of animal feed wheat in an international tender on Friday seeking up to 132,000 metric tons, Reuters reported, citing European traders.

The wheat was sought for arrival in South Korea in two consignments of between 40,000 and 66,000 tons around July 30 and Aug. 15, with the seller free to decide the volume to be offered in this range.

One consignment was bought at an estimated $288.00 a ton cost and freight (c&f) included plus a $1.50 a ton surcharge for additional port unloading for July 30 arrival, traders said.

No purchase was reported of the second consignment sought.

Trading house ADM was the seller, according to traders.

The wheat sought in the tender could be sourced from any worldwide origins but excluding Brazil, Argentina, Denmark, China, India and Pakistan. Black Sea-origin wheat may not be loaded in Russian or Ukrainian ports.

Some traders expected it to be sourced from the US Pacific Northwest coast for shipment in the full month of July.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

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