April 11, 2008

Nonghyup buys 165,000 tonnes of US corn in tender

South Korea's Nonghyup Feed Inc. has bought 165,000 tonnes of US corn in a tender concluded late Thursday, a company official said Friday.

The corn will be divided into three equal shipments of 55,000 tonnes.

The first and second shipment will be supplied by trading house CHS Inc. at a premium of US$2.87 per bushel to the CBOT September and December contracts respectively.

The third shipment will be supplied by Cargill at a premium of US$2.90 per bushel to the CBOT December contract.