December 31, 2003

South Korea Buys 42,000 MT China Corn

South Korea's Nonghyup Feed Inc. bought 42,000 metric tons of Chinese yellow corn via private talks in the last few days, said a NOFI official Wednesday.

Dalian Huaxing Enterprise Group Co. was the supplier of the corn, which is expected to arrive Jan. 10, he said.

Of the total, NOFI bought 25,000 tons Monday for Incheon or Ulsan delivery at US$148 a ton, cost and freight, said the official.

NOFI bought the initial 17,000 tons Friday for Mokpo delivery at US$150/ton, C&F, he said.

Two weeks ago, South Korea's Major Feedmill Group bought 25,000 tons of Chinese corn via private talks from Concordia Agritrading at US$156.95/ton, C&F, for December shipment to Kunsan, traders said earlier.