South Korea's MFG buys 68,000 tons corn in private deal, traders say
HAMBURG: South Korea's Major Feedmill Group (MFG) purchased around 68,000 metric tons of animal feed corn in a private deal on Tuesday without issuing an international tender, European traders said.
It was bought at an estimated $233.99 a ton cost and freight (c&f) included plus a $1.25 surcharge for additional port unloading.
The purchase was expected to be sourced from South America or South Africa. Shipment from South America was between July 20 and August 20. If the corn is sourced from South Africa, only 55,000 tons need be supplied.
South Korea's MFG buys estimated 199,000 tons corn, traders say
Seller was believed to be trading house Freepoint. The deal followed separate corn purchases by Korean importers NOFI and KFA on Tuesday.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
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