August 7, 2006

South Korea's NOFI buys 195,000 tonnes of corn in tender

South Korea's Nonghyup Feed Inc, or NOFI, has bought 195,000 tonnes of optional-origin corn, in a tender concluded late Friday, a trader in Seoul said Monday (Aug 7). 

The entire shipment is expected to arrive in South Korea between Oct 10-Nov 15.

Trading house Bunge would supply 55,000 tonnes of corn at a premium of US$1.59/bushel above the Chicago Board of Trade December contract.

Cargill would supply 55,000 tonnes at a premium of 160 cents/bushel above the CBOT December contract, while Toepfer will supply the same amount of corn at a premium of 166 US cents above the CBOT December contract.

Trading house Shinsong would supply 30,000 tonnes of corn at US$161.73/tonne.