June 12, 2006

South Korea's NOFI buys 165,000 tonnes corn in tender

South Korea's Nonghyup Feed Inc, or NOFI, has bought 165,000 tonnes of optional-origin corn in a tender concluded late Friday (Jun 9), a company official said.

Of the total, 110,000 tonnes will be supplied by trading house Louis Dreyfus at US$1.195 a bushel above the Chicago Board of Trade September contract.

The shipment will arrive in South Korea between Oct 15-20.

The remaining 55,000 tonnes would be supplied by trading house Noble Grains for US$1.205 a bushel above the CBOT September contract, for delivery in South Korea on Sep 5.