South Korea's Feed Leaders Committee (FLC) purchased about 65,000 tonnes of corn expected to be sourced from South America in a private deal on Tuesday without issuing an international tender, European traders said on Friday.
The corn was purchased at around $211.90 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading. Shipment is between August 15 and September 15. Traders said the seller was Chinese trading house Cofco. Chicago corn futures rose on Tuesday to approach last week's three-year highs after the US Department of Agriculture said US planting was well behind the average pace for this time of year following repeated rain.
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