October 7, 2010

Korea Feed Association buys 55,000 tonnes US soymeal

The Korea Feed Association has bought a cargo of 55,000 tonnes of US soymeal for February shipment at US$424.35/tonne, cost-and-freight, trading executives said Wednesday (Oct 6).

Buyers in South Korea are aggressively purchasing soymeal to cover their requirements for the first quarter of next year, and bought at least 200,000 tonnes this week from India and the US.

On Tuesday (Oct 5), the Korea Feed Association also bought 165,000 tonnes of corn from Cargill at prices between US$269/tonne-$272/tonne, cost and freight.