March 22, 2006

South Korea buys 55,000 tonnes of corn

The Korea Feed Association's Pusan branch bought 55,000 tonnes of optional-origin corn in private negotiations with trading house Cargill concluded late Monday (Mar 20), an association official said.

Cargill will supply either China-origin corn at US$125.90/tonne or US/South American corn at US$132.60/tonne.

The price excludes a second port discharge premium of US$1/tonne.

The shipment will arrive at Pusan or Ulsan Jun 6-25 if the origin is China, May 6-25 if it is from the US Gulf, May 21-Jun 10 if from the Pacific north-west, and May 1-26 if from South America.