South Korea purchased 60 thou. t of Black Sea feed wheat off tender
South Korean feed company FLC bought some 60,000 t of feed wheat on Friday, May 7, allegedly of Black Sea origin, Refinitiv Agriculture reports.
European traders reported that the wheat purchase was made in a private transaction avoiding an international tender.
"Wheat was purchased at an estimated price of 329.9 USD/t C&F plus an additional 2 USD/t for unloading at a port. CHS is assumed to be the seller," the message reads.
As informed by traders, the shipment is expected between June 1 and July 5, 2021, with delivery to South Korea around August 10.
The global wheat trade in 2020/21 is forecast by FAO 2.0% higher YoY.