December 1, 2005

South Korea's MFG buys 110,000 tonnes of corn from Cargill

South Korea's Major Feedmeal Group(MFG), bought 110,000 tonnes of US no. 2 corn from trading house Cargill in a tender concluded Wednesday, a Seoul-based trader said.

The purchase consists of two panamax-size cargoes of 55,000 tonnes each.

Cargill will delivery one of the cargoes for US$131.19/tonne, cost and freight, to the port of Incheon March 15.

The other cargo will be delivered April 5 to either of the port of Pusan or Kunsan for US$132.65/tonne.