February 14, 2019 / 8:54 AM / 6 months ago

South Korea this week bought 85,000 tonnes U.S. wheat

HAMBURG (Reuters) - Two flour mills in South Korea this week purchased about 85,000 tonnes of milling wheat to be sourced from the United States, European traders said on Thursday.

About 50,000 tonnes was bought for shipment between May 16 and June 15 and another 35,000 tonnes was bought for shipment between May 10 and June 10, they said.

The purchases involved a range of different wheat types.

The 50,000 tonne purchase involved about 35,000 tonnes of hard red winter of 11.5 protein bought at $243.20 a tonne fob.

The 50,000 tonne purchase also included soft white wheat of 10.5 percent protein content bought at $235.16 a tonne fob, soft white wheat of 9.5 percent protein content at $236.26 a tonne fob, soft white wheat of 8.5 percent protein content at $235.16 a tonne fob and northern spring wheat of 14.0 protein content bought at $250.32 a tonne fob.

The 35,000 tonne purchase involved hard red winter of 11.5 protein bought at $243.30 a tonne fob, soft white wheat of 10.5 percent protein content bought at $233.20 a tonne fob and northern spring wheat of 14.0 protein content bought at $250.15 a tonne fob.

U.S. wheat futures rose on Wednesday for a fourth straight session as a pickup in U.S. export activity and firm cash markets spurred buying.

Reporting by Michael Hogan; editing by Jason Neely

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