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.