UGC, Bunge sells wheat to South Korea; Kofmia issues new tender

18 Jun 2020 | Masha Belikova

South Korea’s flour milling association, Kofmia, purchased 46,800 mt of US wheat and 30,500 mt of Canadian wheat in a tender that closed on Thursday, while also announcing a second tender to be held on Friday, traders told Agricensus.

Kofmia paid $224.50/mt FOB to Bunge, who sold 2CWRS wheat with 13.5% protein sourced from Canada to be shipped during the October 1-31 period.

UGC was the seller for the US wheat section of the tender, slated for shipment during the same period, with the total amount divided into smaller consignments.

UGC sold 25,200 mt of soft white wheat with a 10.5% protein maximum at $216.87/mt FOB, with another 1,400 mt of 8.5% SW wheat booked at $227.60/mt FOB.

Also, 9,400 mt of 11.5% hard red winter wheat was sold at $225.29/mt FOB and finally 10,800 mt of 14% dark northern spring wheat was sold at $244.70/mt FOB.

While taking the tendered amount, the South Korean association also invited traders to participate at a new tender for 30,000 mt US origin wheat for the October 1-31 shipment dates.

The cargo should include 10,100 mt of western white and/or soft white wheat with 10.5% maximum protein, 1,500 mt of WW/SW with 8.5% maximum protein, 8,800 mt of 11.5% hard red winter wheat, and finally northern spring or dark northern spring wheat with 14% protein.

Last time Kofmia purchased a smaller-than-expected 35,000 mt cargo at $225.14/mt FOB in a tender for almost 90,000 mt on May 21.

For more information on recent Korean tenders, please see our Tender Dashboard.