Latest news with #MajorFeedmillGroup
Business Recorder
4 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.
Business Recorder
14-05-2025
- Business
- Business Recorder
Wheat steady-down 4 cents, corn mixed, soybeans steady-up 3
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday. Wheat - Steady to down 4 cents per bushel CBOT wheat futures fell as a sharp improvement in U.S. crop conditions reinforced supply pressure this week. The USDA rated 54% of the U.S. winter wheat crop in good to excellent condition, up 3 percentage points from last week and the highest for this time of year since 2019. Analysts surveyed by Reuters on average had expected no change in ratings. South Korea's Major Feedmill Group (MFG) purchased about 64,000 metric tons of animal feed wheat to be sourced from optional worldwide origins in a private deal on Wednesday without issuing an international tender, European traders said. CBOT July soft red winter wheat was last down 3-3/4 cents at $5.13-1/2 per bushel. K.C. July hard red winter wheat was last down 3-1/2 cents at $5.08-1/4 a bushel, while Minneapolis July spring wheat was last down 7-1/2 cents to $5.73-1/4 a bushel. Soybeans hit 9-month high on biofuel tax credit proposal, trade optimism Corn - Up 3/4 cent to down 3 cents per bushel Most corn contracts were lower as brisk U.S. planting offset lower than expected U.S. government forecasts of corn stocks. U.S. farmers had planted 62% of the nation's corn crop by Sunday, higher than an average of analyst expectations and ahead of the five-year average for this time of year of 56%, the USDA said in a weekly crop report on Monday. Brazil signed protocols with China on Tuesday to allow exports of an ethanol by-product used in animal feed, challenging U.S. dominance in the market amid the ongoing China-U.S. trade standoff. Leading South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 65,000 metric tons of animal feed corn in an international tender seeking up to 138,000 tons on Wednesday, European traders said. CBOT July corn was last down 2-1/4 cents at $4.40-1/4 per bushel. Soybeans - Steady to up 3 cents per bushel Soybean futures firmed as a proposal to extend a U.S. biofuel tax credit and a truce in a U.S.-China trade dispute boosted hopes for more demand. On Monday a deal between China and the U.S. was announced to temporarily reduce reciprocal tariffs, boosting hopes for revived Chinese demand for U.S. farm goods. U.S. House lawmakers unveiled a proposal on Monday to extend the clean fuel tax credit (45Z) until December 31, 2031, which could sustain demand for soyoil as a feedstock for the expanding U.S. renewable diesel industry. South Korea's Major Feedmill Group (MFG) purchased about 60,000 metric tons of soymeal expected to be sourced from South America in a private deal on Wednesday without an international tender being issued, European traders said. CBOT July soybeans were last up 2-1/2 cents at $10.75 per bushel.
Business Recorder
05-05-2025
- Business
- Business Recorder
South Korea's MFG bought 65,000 to 70,000 T corn in private deal, traders say
HAMBURG: South Korea's Major Feedmill Group (MFG) purchased an estimated 65,000 to 70,000 metric tons of animal feed corn in a private deal late last week without issuing an international tender, European traders said on Monday. It was bought at an estimated $248.40 a ton cost and freight (c&f) included plus an additional $1.25 a ton surcharge for additional port unloading. Seller was believed to be trading house CHS. Arrival in South Korea was around August 15. US export demand pulls corn prices higher If sourced from the US Pacific Northwest coast as some traders expected, shipment was between July 1 and July 31. The volume to be supplied between 65,000 to 70,000 must be declared by June 1. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
Business Recorder
30-04-2025
- Business
- Business Recorder
South Korea's MFG tenders for up to 140,000 tons of corn
HAMBURG: South Korea's Major Feedmill Group (MFG) has issued an international tender to purchase up to 140,000 metric tons of animal-feed corn, European traders said on Tuesday. The deadline for submission of price offers is also Tuesday, April 29. The corn is sought for arrival in South Korea in two consignments of 55,000 to 70,000 tons in July and August. Shipment of one consignment for July 28 arrival in South Korea was sought between June 24-July 13 if sourced from the US Pacific Northwest coast, between June 4-23 from the US Gulf, May 30-June 18 from South America and June 9-28 if from South Africa. Another consignment for August 3 arrival was sought for shipment between June 30-July 19 if sourced from the US Pacific Northwest coast, between June 10-29 from the US Gulf, June 5-24 from South America and June 15-July 4 if from South Africa. Price offers in the tender are sought both in outright terms per ton cost and freight included (c&f) or at a premium over the Chicago July 2025 corn contract. Traders said Asian import interest was sparked after Chicago Board of Trade corn futures fell on Monday on spill-over pressure from falling wheat prices and good progress in US corn sowings, with a group in Taiwan also buying 65,000 tons of US-origin corn.
Business Recorder
29-04-2025
- Business
- Business Recorder
South Korea's MFG buys 50,000 to 65,000 ton feed wheat
HAMBURG: South Korea's Major Feedmill Group (MFG) purchased about 50,000 to 65,000 of animal feed wheat to be sourced from worldwide origins in a private deal on Tuesday without issuing an international tender, European traders said. One consignment was purchased at an estimated $254.40 a ton cost and freight included (c&f) plus a $1.50 a ton surcharge for additional port unloading. It was believed to have been sold by trading house Cargill. The corn was for arrival in South Korea around September 15. If sourced from the Black Sea region, shipment was between July 11 and August 11. Wheat down 10-11 cents, corn down 6-7, soy down 5-6 Russia, China, Pakistan, Argentina and Denmark are excluded as origins. The volume to be supplied must be decided in the 50,000 to 65,000 range by May 31. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later. The MFG also bought animal feed corn in a separate international tender on Tuesday.
