September 8, 2003

 

 

South Korea's CJ Corp Buys 50,000 MT US Soybeans from Marubeni

 

South Korea's CJ Corp. bought 50,000 metric tons of U.S. No. 2 yellow soybeans in a retender Friday, said a company official in Seoul Monday.

   

Marubeni is the supplier, at a premium of 40 U.S. cents a bushel to the Chicago Board of Trade's November soybean contract, free on board, said the official.

   

Shipment dates will be Oct. 15 to Nov. 4 from the U.S. Gulf.

   

CJ decided not to buy soybeans in a tender it held Wednesday due to high prices.

   

In late April, CJ Corp. bought 52,500 tons of U.S. No. 2 soybeans from Cargill in a tender, at a premium of 37 U.S. cents/bu to CBOT August, FOB. The cargo was for August shipment, with an expected arrival date of Sept. 20 at Incheon.