March 24, 2005

South Korea's Dongah and CJ Corp. buy 21,000 tonnes US wheat from Columbia Grain

South Korea's Dongah Flour Mills Co. and CJ Corp. jointly bought 21,000 tonnes of US No. 1 wheat from trading house Columbia Grain International in a buy tender concluded Wednesday, a Dongah official said.

Dongah and CJ bought one cargo of milling wheat at prices ranging from $145.80-$181.35 a tonne, free on board from the US, the official said.

They bought the cargo on a premium basis on top of wheat futures traded in Chicago, Kansas City and Minneapolis, so the prices aren't finalized yet, the official said.

The cargo is to be shipped May 1-31, the official said.

Below are details of the tender:

Quantity    Variety                       Price

(tonnes)      (% of protein)       ($/tonne)

6,500       Soft White 10.5%       145.80

2,700       Soft White 9.5%         148.25

  600       Soft White 8.5%          166.00

4,800       Hard Red Winter         154.92

6,400       Dark Northern Spring  181.35