June 29, 2011

Korea Feed Association buys 55,000 tonnes of corn

The Korea Feed Association has purchased 55,000 tonnes of optional-origin corn from Noble Resources at US$339.99/tonne, cost and freight, for arrival by October 15, trading executives said Tuesday (Jun 28).

On June 17, Nonghyup Feed Inc., South Korea's largest feedmiller, and Major Feedmill Group purchased a total 317,000 tonnes of corn for September arrival at US$349.60-351.49/tonne, cost and freight.

Separately, since June 16, the Korea Corn Processing Industry Association has bought three cargoes of food-grade corn totalling 165,000 tonnes at US$340.50/tonne, US$355.95/tonne and US$358.37/tonne, cost and freight, for arrival by November 25, October 15, and September 25 respectively.

South Korean feedmillers are seeking 220,000 tonnes of feed wheat for arrival in October and November through tenders on Wednesday (Jun 29).