April 4, 2005

South Korea KFA Busan buys 52,500 tonnes of corn from Noble

The Korea Feed Association in Busan bought 52,500 tonnes of optional-origin corn from trading house Noble in a tender concluded Friday, a Seoul-based trader said.

KFA Busan bought one cargo at $146.18 a tonne for US or South American corn, or at $139.18/tonne for Chinese corn, the trader said.

Both prices are after cost and freight. The cargo is to arrive at the ports of Pusan and Ulsan July 20.

A premium of $1.25/tonne will be added for second port discharge, the trader said.

Below are details of the buy tender:

Quantity      Origin                 Shipment Date

(tonnes)

52,500     Pacific Northwest      June 16-July 5

               US Gulf                   June 1-20

              South America          May 27-June 15

              China                       July 1-20