HAMBURG: South Korea’s Korea Feed Association (KFA) has issued an international tender to purchase up to 69,000 metric tons of animal feed corn from South America or South Africa, European traders said on Friday.
The deadline for submission of price offers in the tender from the KFA’s Busan section is Friday.
The corn was sought for arrival in South Korea in one consignment around Sept. 5.
Shipment was sought between July 3 and July 22 if sourced from South America or between July 18 and Aug. 6 if from South Africa.
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Offers were sought both in outright prices per ton cost and freight (c&f) included and at a premium over the Chicago July 2024 corn contract, traders said.
Traders said Asian purchasing interest was sparked by falling Chicago corn futures this week, which were pushed down by factors including weak US export sales, overall favourable US crop weather and increased estimates of Brazil’s crop.
In its last reported corn tender on May 9, the KFA purchased 65,000 tons at $250.67 a ton c&f plus a $1.25 a ton surcharge for additional port unloading.
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