South Korea's Nonghyup Feed Inc has issued a tender to buy up to 220,000 tonnes of optional-origin corn for March through June arrivals, traders said on Friday. This is the first time that a South Korean feed maker is seeking to cover grain for April-June requirements.
South Korean feed makers have been aggressively buying corn and have covered their needs up to March 2007, anticipating future rallies in Chicago corn futures and uncertainties about the amount of cheaper Chinese corn.
South Korea's biggest feed maker is also seeking 52,000 tonnes of feed wheat and 11,000 tonnes of rapeseed meal. The tenders close at 4 pm (0700 GMT) on Friday, traders added.
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