HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc (NOFI) has issued an international tender to purchase up to 138,000 metric tons of animal feed corn, European traders said on Thursday.
The deadline for submission of price offers in the tender is also on Dec. 19, Thursday. Arrival of the corn in South Korea is sought in two consignments of 45,000 to 69,000 tons, both in March 2025.
It is believed the corn was sourced only from the US, South America or South Africa, traders said.
South Korea’s FLC tenders to buy up to 69,000 T corn, traders say
The first corn consignment was sought for arrival in South Korea around March 15. If sourced from the US Pacific Northwest coast, shipment is sought between Feb. 10 and March 1, if from the US Gulf between Jan. 21 and Feb. 9, from South America between Jan. 16 and Feb. 4 or from South Africa between Jan. 26 and Feb. 14.
The second corn consignment is sought for arrival in South Korea around March 25. If sourced from the US Pacific Northwest coast, shipment is between Feb. 20 and March 11, from the US Gulf between Jan. 31 and Feb. 19, from South America between Jan. 26 and Feb. 14 or from South Africa between Feb. 5 and Feb. 24. Sellers have the right to select the origin they will supply. Offers were sought both in outright prices per ton c&f and at a premium over the Chicago March 2025 corn contract , traders said.
South Korea’s Feed Leaders Committee (FLC) bought around 65,000 tons of feed corn in a private deal on Wednesday without issuing an international tender, European traders said on Thursday.
Asian purchase interest has been sparked as Chicago corn futures have fallen from over five-month highs hit last week, due in part to forecasts of smaller US inventories.
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