South Korea buys 140,000 tonnes of corn

South Korea's Major Feedmill Group (MFG) purchased about 140,000 tonnes of optional-origin corn in an international tender which closed on Wednesday, European traders said. Exact prices were unavailable but traders said the MFG said offers had to be below $220 a tonne c&f. The corn was bought in two consignments of up to 70,000 tonnes, with number three yellow grade or better requested.
One consignment was bought at just over $214 a tonne c&f and the other at just over $215 a tonne c&f, traders said. The first consignment for arrival around August 26 was said to have been bought from trading house Pan Ocean. The first consignment was sought for shipment for July 23 to August 11 if sourced from the US Pacific North West Coast, July 3 to July 22 if from the US Gulf, July 3 to July 22 if from the Black Sea region, July 8 to July 27 from South Africa and June 28 to July 17 if from South America.
The second consignment for arrival around September 4 was said to have been bought from trading house Dreyfus. The second consignment was sought for shipment between August 1 and August 20 if sourced from the US Pacific North West Coast, July 12 to July 31 if from the US Gulf, July 12 to July 31 if from the Black Sea region, July 17 to August 5 from South Africa and July 7 to July 26 if from South America.