January 12, 2004

South Korea Buys 105,000 MT Soybeans From Cargill

South Korea's CJ Corp. bought 105,000 metric tons of soybeans from Cargill Inc., said a CJ Corp. official Monday.

The deal was concluded late Friday at 13 U.S. cents a bushel under the Chicago Board of Trade's May soybean contract, free on board, he said.

The soybeans will be split into two equal lots of 52,500 tons each for loading at Santos port, said the official. Shipment dates for the first cargo are April 1-30, while shipment dates for the second cargo are May 1-31, he said.

Dec. 11, CJ Corp. bought 52,500 tons of U.S. No. 2 soybeans from Marubeni Corp. at 46.75 U.S. cents/bu over CBOT March, FOB. In that deal, shipment dates will be Feb. 10-29 from the U.S. Gulf to Incheon.