October 20, 2006

South Korea's KFA Pusan buys 110,000 tonnes corn

The Pusan branch of the Korea Feed Association bought about 110,000 tonnes of optional-origin corn from trading house Cargill in private negotiations, informed a trader in Seoul.

Cargill would supply either China-origin corn at US$174.95/tonne or US/South American-origin corn at US$179.95/tonne to South Korea's KFA Pusan.

Both the prices excluded a second port discharge premium of US$1/tonne.

The first shipment of 55,000 tonnes might reach Pusan or Ulsan by Feb 28 next year while the second cargo could reach Pusan or Ulsan by Mar 20 next year.