August 21, 2006

South Korea buys 110,000 tonnes of corn 

The Korean Feed Association bought 110,000 tonnes of optional-origin corn from trading house Archer Daniels Midland in private negotiations, a trader in Seoul said Monday (Aug 21).

The first shipment of 55,000 tonnes, to be delivered to South Korea on Nov 5, would be supplied at US$165.75/tonne for US corn or US$161.75/tonne for Chinese corn.

The second shipment of 55,000 tonnes, to be delivered on Nov 13, would be supplied at US$166.25/tonne for US corn or US$161.75/tonne for Chinese corn.