October 15, 2004

South Korea KFA Buys 157,500 MT Corn From Toepfer, Bunge

The Seoul-based Korea Feed Association bought 157,500 metric tons of optional-origin corn from trading houses Toepfer and Bunge in a tender concluded Thursday, said a Seoul-based trader who received the tender result.

KFA's Seoul branch bought three cargoes of corn, of 52,500 tons each, to arrive in South Korea Dec. 20, Jan. 10 and Feb. 5, respectively.

Toepfer and Bunge offered corn from the US, South America or China, the trader said. All prices agreed are after cost and freight.

KFA will accept cargoes with 5% above or below the tendered quantity, the trader said.

Below are the details of KFA's buy tender Thursday:

Quantity   Arrival Date         Origin                Prices     Seller
(tons)                                                         ($/ton)
52,500     Dec. 20            US or S. Amer        148.50   Bunge
                                          China                138.50
 
52,500     Jan. 10            US or S. Amer        147.91    Toepfer
                                          China                137.91
 
52,500     Feb. 5             US or S. Amer        145.91    Toepfer
                                         China                135.91