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South Korea's MFG bought around 65,000 metric heaps feed wheat

South Korea's Major Feedmill Group (MFG) purchased about 65,000 metric lots of animal feed wheat in a private offer on Monday without providing an international tender, European traders stated.

One consignment was acquired at an approximated $261.80 a heap c&& f plus a $1.50 a tonne surcharge for additional port discharging. It was believed to have actually been sold by trading home Olam for arrival in South Korea around Feb. 28, 2025.

Reports show assessments from traders and even more price quotes of costs and volumes are still possible later.

If sourced from the U.S. Pacific Northwest coast, Australia or Canada, shipment is between Jan. 15 and Feb. 15.

If sourced from the United States Gulf, the Black Sea region or European Union, delivery is in between Dec. 25 and Jan. 24.

If European shipments are routed through the Cape of Good. Hope, a path typically being required to avoid attacks on ships in the. Red Sea, shipment is in between Dec. 11 and Jan. 10.

South Korean importers NOFI and FLC likewise bought feed. wheat in 2 separate deals on Friday.

(source: Reuters)