HAMBURG: South Korea’s Major Feedmill Group (MFG) purchased about 137,000 tonnes of corn expected to be sourced from South America and other worldwide origins in an international tender that closed on Thursday, European traders said.

The corn was bought in two consignments.

One consignment of 69,000 tonnes expected to be sourced from South America was bought from trading house Bunge at an estimated $287.83 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.

The tender had sought shipment from South America between March 22 and April 10 for arrival in South Korea around May 20. The second consignment of 68,000 tonnes, which can be sourced from worldwide origins, was bought from trading house Cofco at an estimated $289.89 a tonne c&f plus a $1.25 a tonne surcharge for additional port unloading.