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 U.S. weather.
* Dry weather and a cold surge expected next week poses risk of damage to the wheat crop in the southern U.S. Plains.
Source: Reuters (Reporting by Naveen Thukral; Editing by Shailesh Kuber)