South Korean Mills Secure 100,000 Tonnes of US and Canadian Wheat

A consortium of South Korean flour mills has reportedly purchased approximately 100,000 metric tons of milling wheat in an international tender. The transaction, split evenly between suppliers in the United States and Canada, secures grain for shipment in early 2027.

Such large-volume purchases by major Asian importers like South Korea are closely monitored by the market as key indicators of international demand and current price levels for North American grain.

Purchase Breakdown

The tender was reportedly divided into two 50,000-tonne consignments, with all wheat acquired on a free on board (fob) basis, meaning the price does not include shipping and insurance costs. According to a Reuters report, the trading house CJ International is believed to be the seller for the U.S. portion.

The U.S. sale included several classes of wheat for delivery between January 1 and January 31, 2027:

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• 23,000 tonnes of soft white wheat (9.5%-11% protein) at an estimated $273.78 per tonne.
• 14,385 tonnes of hard red winter wheat (min. 11.5% protein) at $335.98 per tonne.
• 12,615 tonnes of northern spring/dark northern wheat (min. 14% protein) at $335.52 per tonne.

Canadian Shipment Details

The 50,000 tonnes of Canadian wheat was reportedly purchased for a price in the low $330s per tonne on a fob basis. This portion of the order is scheduled for shipment between January 15 and February 15, 2027.

The specific pricing across different wheat classes provides a valuable benchmark for grain traders. The forward-dated delivery schedule indicates that the mills are locking in supplies and prices well in advance to manage their procurement strategy.