February 3, 2004

South Korea Nonghyup Feed Inc Buys Thai Corn

South Korea's Nonghyup Feed Inc. - formerly known as the National Agricultural Cooperative Federation - bought 12,000-15,000 metric tons of Thai corn in a private deal Monday, a Korean trader said Tuesday.

Nonghyup bought most of the corn from Cargill Inc., at $173.50 a metric ton, cost and freight basis to Mokpo port for March 11-30 delivery, said the trader.

A Nonghyup official declined to comment when contacted.

If confirmed, this would be the second private deal in as many working days in which Korean buyers sought Thai corn.

In a private deal Friday, South Korea's Major Feedmill Group bought 15,000 tons of Thai corn at $169.50/ton, C&F basis to Kunsan port for March 10 arrival, said traders.

The seller was Cargill, they said.