European traders claim that the Feed Leaders Committee of South Korea (FLC) did not purchase any animal feed wheat in an international auction for up to 65,000 tons on Wednesday.

FLC received an initial offer of $267.35 per ton, cost and freight included (c&f).

Another Korean importer, Major Feedmill Group(MFG), purchased 115,000 tons in private deals on Wednesday at lower prices. The ton was $265 or $264.84.

The FLC sought prices under $265 per ton c&f, which traders claimed that tender participants refused to offer.

The FLC was looking for wheat to arrive in South Korea by June 30. The reports reflect the assessments of traders, and future estimates of volumes and prices are possible. Michael Hogan is reporting.

(source: Reuters)