HAMBURG: The Korea Feed Association (KFA) in South Korea purchased an estimated 63,000 metric tons of animal feed corn to be sourced from the United States, South America or South Africa in a private deal on Thursday without issuing an international tender, European traders said on Friday.
The corn was believed to have been purchased by the KFA’s Busan section from trading house Olam at an estimated $258.49 a ton cost and freight (c&f) plus a $1.50 a ton surcharge for additional port unloading for arrival in South Korea around April 20.
Corn, soybeans hover near multi-month highs on no-tariff relief
If sourced from the US Pacific Northwest coast, shipment will be between March 11 and April 5.
If sourced from South America, only 53,000 tons need be supplied.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
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