October 18, 2004

South Korea MFG Buys 105,000 MT Corn From Noble, Cargill

South Korea's Major Feedmill Group bought 105,000 metric tons of optional-origin corn from trading houses Noble and Cargill in a tender concluded Friday, said a Seoul-based trader.

MFG bought two cargoes of corn, of 52,500 tons each, to arrive in South Korea Dec. 25 and Jan. 5, respectively.

Noble and Cargill can choose to supply corn from the US, South America or China.

Noble sold the first cargo at $147.50 a ton for either US or South American corn. In case of Chinese corn, MFG will pay $139.40/ton.

Cargill sold the second cargo at $147.50/ton for either US or South American corn. In terms of Chinese corn, MFG will pay $140.50/ton.