South Korea's largest feedmaker Nonghyup Feed Inc (NOFI) purchased about 273,000 tonnes of corn in a tender which closed on Wednesday, European traders said. The corn was bought in four consignments which can be sourced from the United States, South America or world-wide origins, they said.
NOFI also purchased about 65,000 tonnes of feed wheat, all at $192.50 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading for arrival in South Korea around Feb. 1 2017, they said.
The first consignment of 69,000 tonnes of world-wide-origin corn was purchased at $187.29 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading for arrival around Feb. 5, 2017, they said.
The second consignment of 69,000 tonnes of US/South American origin was purchased at a premium of 126 US cents a bushel c&f over the Chicago March 2017 corn contract plus a $1.25 a tonne surcharge for additional port unloading. It is for arrival around Feb. 20, 2017, they said.
The third consignment of 67,000 tonnes of US/South American origin corn was purchased at a premium of 124.90 US cents a bushel c&f over the Chicago March 2017 corn contract
plus a $1.00 a tonne surcharge for additional port unloading. It is for arrival around March 1, 2017, they said.
The fourth consignment of 68,000 tonnes of world-wide origin corn was purchased at $187.99 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading for arrival around March 10, 2017, they said.
Unusual offers of cheap Chinese-origin corn were made in the tender but were rejected in favour of other origins, one trader said.
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