October 6, 2004

South Korea NOFI Buys Up To 155,000 MT Corn From Bunge, Cargill

South Korea's Nonghyup Feed Inc., or NOFI, bought up to a total of 155,000 metric tons of optional origin U.S. No. 3 standard corn from trading houses Bunge and Cargill in a tender concluded Tuesday, said a NOFI official Wednesday.

Bunge sold two cargoes at $139.94 a metric ton for either U.S. or South American corn. Cargill sold one cargo at $141.90/ton for U.S. or South American corn, or at $7/ton discount in the case of Chinese corn, the official said.

Below are the details of NOFI's buy tender Tuesday:
Quantity                       Origin                       Prices                   Arrival Date
(tons)                          ($/ton)
52,500                         U.S., S Amer                  139.94    Dec. 25
52,500                         U.S., S Amer                  139.94    Dec. 25
40,000-50,000              U.S., S Amer                  141.90    Dec. 10 
                                  China                             134.90    Dec. 10