November 16, 2011

Major Feedmill Group procures US, optional-origin corn 

Major Feedmill Group (MFG), a South Korean firm, purchased 70,000 tonnes of US corn and two 55,000-tonne shipment of optional-origin corn on Tuesday (Nov 15) set to arrive from late February to early March, according to US traders.

MFG bought the US corn from Mitsui at about US$324 per tonne, including cost and freight, and the optional-origin corn from Concordia at US$303.88 per tonne, C&F, they said.

The price of the optional-origin corn suggested it would be sourced from the Black Sea region, likely Ukraine, they said.

MFG, which had sought a maximum of 220,000 tonnes of corn in the tender, also purchased a 55,000-tonne cargo of feed wheat on Tuesday via a separate tender.