May 17, 2006

South Korea's NOFI buys 110,000 tonnes of corn in tender

South Korea's Nonghyup Feed Inc (NOFI) has bought 110,000 tonnes of optional-origin corn from trading house Toepfer in a tender concluded Tuesday (May 16), a NOFI official said.

NOFI bought two cargoes of 55,000 tonnes each, which could be either of US or China origin, at 112.98 US cents per bushel above the Chicago Board of Trade July contract, excluding a second port discharge premium of US$1/tonne.

The first shipment will arrive in Inchon or Ulsan Jul 10, while the second will arrive at either of these ports Jul 15.