March 28, 2005

South Korea's KFA Seoul buys 52,500 million tonnes corn from Cargill

Seoul-based Korea Feed Association bought 52,500 tonnes of optional-origin corn from trading house Cargill in private negotiations finalised Friday, a KFA Seoul official said Monday.

KFA Seoul bought one cargo at US$146.80 per tonne for either US or South American corn, or at US$139.80 per tonne for Chinese corn, the official said.

Both prices are after cost and freight.

The cargo is to be shipped to the port of Incheon July 25, the official said.

KFA Seoul negotiated privately with Cargill Wednesday, but the deal wasn't finalised until Friday, the official said.