Flour millers in Asia have ramped up imports of U.S. wheat in recent weeks, driven by competitive prices from American suppliers and delays in shipments from the Black Sea.
Indonesian importers have finalized deals for around 500,000 tons, while buyers in Bangladesh secured about 250,000 tons and millers in Sri Lanka acquired around 100,000 tons.
Millers are taking both U.S. soft white wheat and hard red winter wheat varieties.
Apparently, there were some weather issues which delayed cargoes from the Black Sea region, and U.S. prices have been pretty competitive.
This is additional demand for U.S. wheat in Asia, complementing purchases by traditional buyers such as Thailand, the Philippines and Taiwan.
Citing a recent deal, U.S. soft white wheat was sold at $270 per metric ton, including cost and freight to a buyer in Southeast Asia, while hard red winter variety was sold at $275 per ton.
