September 1, 2003

South Korea Feed Group Bought 77,000 MT Chinese Corn

South Korea's Major Feedmill Group agreed to buy 77,000 metric tons of Chinese corn from Dalian Huaxing Enterprise via private negotiations on August 28, traders in South Korea said.

Of the total, MFG agreed to buy 52,000 tons for expected arrival Dec. 20 at Incheon, at US$116.50 a ton, cost and freight, said the traders.

The remaining 25,000 tons were purchased at slightly above US$118/ton, C&F, for expected arrival Dec. 25 at Kunsan, they said.

Last week, MFG agreed to buy 25,000 tons of Chinese corn from Top Glory, at US$118.60/ton, C&F, for shipment dates Nov. 26 to Dec. 10 to Kunsan, said a