European traders reported that a group of South Korean mills purchased an estimated 50,000 tons of milling grain to be sourced in the United States at an international auction on Wednesday.

All the wheat was purchased FOB for shipment between October 16 and November 15.

They said that the seller was likely Bunge Trading House.

Traders said that the purchase included soft white wheat with a protein content between 9.5% and 11%, which was purchased in the lower $270s per ton, hard red wheat with a protein of 11.5%, bought in low $270s per ton, and dark northern spring grain of 14%, bought in low $280s per ton, according to traders.

The reports reflect the opinions of traders, and it is possible that further estimates will be made later. Michael Hogan reports.

(source: Reuters)