November 6, 2007

South Korea buys 90,000 tonnes US corn

South Korea's Major Feedmill Group has bought 90,000 tonnes of US corn, traders said on Monday (November 6, 2007).

The group agreed to buy 45,000 tonnes of corn at US$292.25 per tonne, including cost and freight, from Mitsubishi Corp and the other 45,000 tonnes of corn at US$293.55 per tonne from ADM .

The corn shipments are scheduled to arrive Feb. 25.

The purchase was made during private negotiations on Friday (November 2, 2007).