June 17, 2010

South Korean feedmaker Nonghyup Feed bought 55,000 tonnes of corn and 55,000 tonnes of feed wheat via tenders on Wednesday (June 16), traders said.

Premiums are calculated per bushel over CBOT December contract, on a cost-and-freight (C&F) basis. The cargo is due to arrive at three ports among Incheon, Kunsan, Mokpo or Busan. The deal price excludes US$3.50 per tonne of the three-port delivery charges.

The cargo is also due to arrive at the ports of Incheon, Kunsan and Busan. The deal price excludes US$3 per tonne of three-port delivery charges.

Nonghyup Feed passed on other tenders also closed late on Wednesday to buy 45,000-55,000 tonnes of corn for November 15 arrival, and 20,000-40,000 tonnes of feed wheat for September 1 arrival because of high prices.