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South Korea's largest feedmaker Nonghyup Feed Inc (NOFI) has issued an international tender to purchase up to 138,000 tonnes of yellow corn to be sourced from optional origins, European traders said on Monday. The tender closes on Tuesday, June 2, they said. Between 50,000 and 69,000 tonnes is sought for arrival in South Korea on December 20. Shipment was sought between November 17 to December 6 from the US Pacific North West coast, between October 28 to November 16 from the US Gulf, South Africa, Black Sea region or east Europe or between October 23 to November 11 from South America or Europe, they said.
A further 50,000 to 69,000 tonnes was sought for arrival in South Korea on December 30. Shipment was sought between November 27 to December 16 from the US Pacific North West coast, between November 7-26 from the US, South Africa, Black Sea or east Europe or between November 2-21 from South America or Europe, traders said. In its last reported tender on April 29, NOFI purchased up to 65,000 tonnes of optional-origin yellow corn. US corn fell 0.5 percent on Monday, extending two-day losses to 1 percent, as a brightening supply outlook and signs of sluggish demand pressured prices.

Copyright Reuters, 2015

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