Taiwan buys estimated 93,125 T wheat of U.S.-origin in tender

Credit: REUTERS/Julie Ingwersen

Adds detailed purchase breakdown, prices in paragraphs 3-8

HAMBURG, Sept 22 (Reuters) - The Taiwan Flour Millers' Association purchased an estimated 93,125 metric tons of milling wheat to be sourced from the United States in a tender on Friday, European traders said.

The purchase involved various wheat types bought in two consignments for shipment from the U.S. Pacific Northwest coast.

The first consignment for shipment between Nov. 9 and Nov. 23 involved 33,440 tons of U.S. dark northern spring wheat with a minimum 14.5% protein content bought at $370.98 a ton on a free-on-board (FOB) basis, which comes to $408.98 a ton on a cost and freight (C&F) basis including ocean shipping to Taiwan, they said.

Trading house ADM was believed to be the seller.

It also involved 10,590 tons of hard red winter wheat with a minimum 12.5% protein content bought at $310.11 a ton FOB, or $348.11 a ton C&F, and 7,970 tons of soft white wheat of a minimum 8.5% and maximum 10% protein content bought at $280.72 a ton FOB, or $318.72 a ton C&F. CHS was the seller of both.

The second consignment for shipment between Nov. 25 and Dec. 9 involved 25,700 tons of U.S. dark northern spring wheat of a minimum 14.5% protein content bought at an estimated $341.41 a ton FOB, or $385.40 a ton C&F, also sold by ADM.

The second consignment also involved 8,200 tons of hard red winter wheat of a minimum 12.5% protein content bought at $306.44 a ton FOB, or $350.43 a ton C&F, and 7,225 tons of soft white wheat of a minimum 8.5% and maximum 10% protein bought at $280.72 a ton FOB, or $324.71 a ton C&F. Both were also sold by CHS.

The association’s tenders traditionally provide an accurate snapshot of U.S. export prices in Asian markets.

(Reporting by Michael Hogan; Editing by Christian Schmollinger)

((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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