December 1, 2004

South Korea MFG Bought 55,000 MT Soymeal from Cargill

Members of South Korea's Major Feedmill Group bought 55,000 metric tons of South American soymeal from trading house Cargill in private negotiations concluded Monday, according to a trader who received the information on Wednesday.

The MFG members, who are also members of the Seoul-based Korea Feed Association, bought one cargo of South American soymeal at $249.60 a ton, cost and freight to arrive in South Korea Feb. 20, the trader said.

MFG members had sought the same amount of soymeal through a public tender on Nov. 17. But they declined all offers at that time, saying they were too high.