The corn was purchased in 4 consignments
24 Could 2024
2 minute learn
South Korea’s Main Feedmill Group (MFG) has bought an estimated 271,000 metric tons of animal feed corn anticipated to be sourced primarily from South America or South Africa in a world tender on Thursday, Reuters reported, citing European merchants.
The corn was purchased in 4 consignments.
Merchants mentioned CJ Worldwide offered 67,000 tons with cargo between July 24 and Aug. 12 if sourced from South Africa for arrival in South Korea round Sept. 20 at $246.99 a ton value and freight (c&f) plus a $1.25 a ton surcharge for extra port unloading.
Buying and selling home Cofco offered 68,000 tons with cargo between Aug. 3 and Aug. 22 if from South America for Sept. 30 arrival at $246.64 a ton c&f plus a $1.50 a ton surcharge for extra port unloading.
Merchants mentioned Olam offered 68,000 tons with cargo between Aug. 1 and Aug. 31 if from South America for Oct. 10 arrival at $244.99 a c&f plus a $1.50 a ton additional port surcharge.
Buying and selling home Scoular offered 68,000 tons for cargo if from South America between Aug. 15 and Sept. 15 with arrival round Oct. 25 at $244.99 a ton c&f plus a $1.50 a ton additional port surcharge.
Rising wheat costs on concern over climate injury to the crop in high exporter Russia have generated expectations of higher demand for cheaper corn.
Studies mirror assessments from merchants and additional estimates of costs and volumes are doable later.
