SINGAPORE: Flour millers in Indonesia this week bought around 120,000 tonnes of old-crop Black Sea wheat for shipment in June, two Singapore-based traders said on Friday.
“Prices paid by Indonesian millers ranged between $285-$290 a tonne, including cost and freight (C&F), depending on the port of delivery,” said one of the traders.
Australian Premium White wheat prices bounced back in Asia to $300 a tonne, C&F, up from last week’s $280-$285 a tonne.
“Wheat prices in Asia have climbed back, tracking gains in the Chicago futures,” he added.
The Chicago Board of Trade’s most-traded wheat contract rose 2.3% this week, gaining for a second consecutive week on concerns over adverse US weather.
Dry weather and a cold surge expected next week poses risk of damage to the wheat crop in the southern US Plains.
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