July 16, 2004

South Korea's CJ Corp, Dongah Buy 21,000 MT US Wheat From CGII

South Korea's CJ Corp. and Dongah Flour Mills Co. decided to buy 21,000 metric tons of U.S. No. 1 wheat in a joint tender concluded Thursday from trading house Columbia Grain Inc., or CGII, a CJ Corp. official said.
 
CJ and Dongah bought the cargo of assorted milling wheat at prices ranging from $150.47-$172.95 a metric ton, free-on-board from the Pacific Northwest between Sept. 10 and Oct. 10, said the official.
 
CJ and Dongah will pay an additional freight rate on top of the FOB prices, but the rate hasn't been fixed, he added.
 
Below are the details of CJ and Dongah's buy tender Thursday:
 
Variety                       Quantity (Tons)         Price ($/Ton)
WW and/or SW 10.5%    maximum   8,900            150.47
WW and/or SW 9.5%             1,500                     150.47
WW and/or SW 8.5%             1,900                     151.98
Hard Red Winter 11.5%         4,200                      159.27
Dark Northern Spring 14%     4,500                    172.95