September 20, 2010

South Korea's Nonghyup purchases 165,000 tonnes US corn

Major feed maker Nonghyup Feed (NOFI) bought three cargoes containing up to 165,000 tonnes of US corn on Friday (Sep 17) for arrival from late January to early February, US traders said.

Two of the corn cargoes were purchased at US$2.24-1/2 per bushel over the CBOT December <CZ0> futures contract, including freight, for arrival January 15-20, traders said.

They added that NOFI bought the third at US$2.14 over the CBOT March <CH1> contract, including freight, for arrival by February 1.