April 18, 2022

About 69,000 tonnes of corn feed acquired by South Korea's NOFI

South Korean animal feed maker Nonghyup Feed Inc (NOFI) has bought an estimated 69,000 tonnes of animal feed corn in an international tender which closed on April 14, European traders said.

The tender had sought up to 138,000 tonnes but offers for a second 69,000-tonne consignment were rejected with no purchase made, they said.

The corn was bought for arrival in South Korea around August 10 at an estimated premium of 202 US cents a bushel cost and freight (c&f) over the Chicago July 2022 corn contract CN2, they said. The seller was believed to be trading house Cargill.

NOFI had only on April 12 bought 207,000 tonnes of feed corn in an international tender.

- Reuters