HAMBURG: The Incheon section of the Korea Feed Association (KFA) in South Korea is believed to have purchased about 65,000 metric tons of animal feed corn in a private deal on Thursday without issuing an international tender, European traders said on Friday.

It was believed to have been purchased from trading house Columbia Grain International at an estimated $234.99 a ton cost and freight (c&f) included with no surcharge for additional port unloading.

The KFA’s Incheon section is also called the Feed Buyers’ Group.

The corn can be sourced from the United States, South America or South Africa for arrival in South Korea around April 15.

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If sourced from the US Pacific Northwest coast, shipment is between March 1-March 31. Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

The deal continued heavy purchasing of corn by Korean importers this week ahead of world supply and demand reports and other estimates from the US Department of Agriculture (USDA) later on Friday.