The Taiwan Flour Millers' Association made no purchase in a tender for 80,900 tonnes of milling wheat to be sourced from the United States which closed on Friday, European traders said. Prices were regarded as too high, traders said. The tender had sought wheat in two consignments for shipment between September 8-22 and September 25 to October 9.
"Some wheat importers are delaying purchases in the hope that prices will fall further with good harvest prospects in the United States and elsewhere," one European trader said. "There was also market talk of logistics problems in an export terminal of a major US trading house which had offered the lowest price in the Taiwan tender on Friday." Chicago wheat prices slumped to contract lows on Wednesday amid rising global supplies and strong export competition for US supplies and are still hovering only slightly over their low point.