January 12, 2021
South Korea's MFG did not buy 65,000 tonnes of wheat, traders say
South Korea's Major Feedmill Group (MFG) is believed to have turned down offers and made no purchase in a private inquiry about buying about 65,000 tonnes of wheat - for use as animal feed - made on January 7, European traders said in initial assessments on January 8.
The wheat was sought for May/June shipment.
MFG was seeking to buy at around $275 a tonne c&f which was too low compared to selling offers of around $290 to $295 a tonne c&f, traders said.
- Business Recorder