February 11, 2004

South Korea Feed Group Buys 15,000MT Corn

The Korean Feed Association in Seoul bought 15,000 metric tons of optional-origin corn from Noble Group via private talks Tuesday, an official from the association said Wednesday.

Noble has the option of delivering Chinese, Indonesian, Thai, Indian or Malaysian corn in the deal, set at $170.90/ton, cost and freight basis to Incheon, the official said.

Whether the KFA will buy any more corn this week depends on its members, he said.

Some of them hesitate to buy Thai and Indonesian corn, and thus may decide to buy one or two more cargoes, he said.