Major Feedmill Group of South Korea (MFG) bought 115,000 metric tonnes of animal feed wheat on Wednesday in private deals without issuing a tender to the international market, European traders reported.

A consignment of 55,000 tons was purchased for an estimated $265.00 per ton c&f, plus a $1.00 surcharge per tonne for port unloading. The consignment was sold to CJ International in April.

A second consignment of 60,000 tons was purchased for an estimated $264.84 per ton c&f, plus a $1.50 surcharge per tonne to cover additional port unloading. Cargill, a trading house, was thought to have sold it for shipment between April and May.

The reports reflect the assessments of traders, and it is still possible to estimate prices and volume later. Michael Hogan is reporting.

(source: Reuters)