5 days ago
- Business
- Business Recorder
South Korea's MFG buys estimated 199,000 tons corn, traders say
HAMBURG: South Korea's Major Feedmill Group (MFG) purchased an estimated 199,000 metric tons of animal feed corn in in an international tender on Thursday, European traders said.
It was bought in three consignments all for arrival in South Korea in September, and was all bought at $235.99 a ton a ton cost and freight (c&f) plus an additional surcharge of about $1.25 a ton for additional port unloading.
One consignment of 67,000 tons was bought from trading house CJ International and expected to be sourced optionally from U.S. Pacific Northwest coast, South America or South Africa.
US export demand pulls corn prices higher
Two consignments of 66,000 tons were both bought from trading house ADM and were expected to be sourced optionally from South America or South Africa.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
