HAMBURG: South Korea's Korea Corn Processing Industry Association (KOCOPIA) bought about 120,000 tonnes of corn thought likely to be sourced from the United States in a tender that closed on Monday, European traders said.
The corn was purchased in two 60,000 tonne consignments.
The first consignment, for April 20 arrival, was purchased at about $204.70 a tonne c&f including a surcharge for additional port unloading for shipment from the US Pacific North West coast between March 15 and April 5.
The second consignment, for May 5 arrival, was purchased at about $205.52 a tonne c&f including a surcharge for additional port unloading for shipment from the US Pacific North West coast between April 1-20.
US corn prices are currently regarded as highly competitive in world markets, traders said.
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