April 28, 2004

South Korea's AFMC Pass On Soybeans On High Price

The Agricultural and Fishery Marketing Corp. didn't buy any soybeans in a tender seeking 25,000 metric tons of the commodity Tuesday, because the offer prices it received were "a bit too high", a company official said.
 
The AFMC was seeking U.S. soybeans that didn't contain genetically modified organisms for Sept. 10, 2005, arrival at the port of Incheon.
 
"We will consider opening the tender again later," said the same official.
 
April 12, AFMC bought 100,000 tons of U.S. No. 1 soybeans from trading house Toepfer - four cargoes of 25,000 tons each - at an unspecified price. These cargoes are for arrival at the port of Incheon from mid-December 2004 to early-July 2005.