Novavax Stock- South Korea’s MFG buys about 65,000 tonnes feed wheat in tender – trade
Adds second consignment not bought, shipment periods from possible global origins
HAMBURG, June 15 (Reuters) – South Korea’s Major Feedmill Group (MFG) has purchased about 65,000 tonnes of animal feed wheat which can be sourced from optional origins in a tender which closed on Tuesday, European traders said.
The tender had sought up to 140,000 tonnes in two consignments of up to 70,000 tonnes. But traders said that only one consignment was purchased.
The wheat was bought at an estimated $304.25 a tonne c&f including a surcharge for additional port unloading. The seller was believed to be trading house Olam.
The consignment bought was for arrival around Oct. 30. Shipment was sought between Sept. 26 and Oct. 15 if sourced from the U.S. Pacific Northwest coast, Australia or Canadian west coast; between Sept. 6 and Sept. 25 if from the U.S. Gulf or Black Sea region, or between Sept. 1 and Sept. 20 if from South America.
High corn prices continue to encourage Asian importers seek wheat as an alternative feed source, traders said.
The MFG on June 11 purchased about 65,000 tonnes of feed wheat at $313.00 a tonne c&f plus a $2.50 a tonne surcharge for additional port unloading.
(Reporting by Michael Hogan, editing by David Evans)
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