December 9, 2005

South Korea's NOFI buys up to 226,000 tonnes corn
 

South Korea's Nonghyup Feed Inc., or NOFI, has bought up to 226,000 tonnes of corn from five suppliers in a tender concluded late Thursday night, a Seoul-based trader said Friday.

Corn of Chinese origin would be shipped in February, while corn of US or South American origin would be shipped in January.

One of the suppliers, ADM, has the option of supplying 18,000-22,000 tonnes of corn.

Details of the buy tender are as follow. All prices are in US dollars a tonne, inclusive of cost and freight.

Quantity                 Price             Origin                     Trading House

(in tonnes)             (US$)

105,000                126.73            China                         Toepfer

55,000                  129.73       US/South America            Toepfer

25,000                  129.91             China                      Concordia

12,000                  131.47             China                   Daewoo International

18,000-22,000       133.75             US                              ADM

7,000                   140.40              US                            Cargill