European traders reported on Thursday that a group of Thai importers is believed to be the ones who rejected all bids and did not purchase any animal feed wheat in an international auction for up to 195,000 tons which ended on Wednesday.

Prices were considered too high. Although a minor purchase was not ruled out, traders felt that no significant volume had been purchased.

The group is believed to have instead purchased an undetermined volume of animal feed from Asia for shipment in March and April.

The feed wheat tender sought to ship three consignments, each of up 65,000 tons in various combinations between July, August and Septembre.

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

(source: Reuters)