HAMBURG: Three South Korean importers purchased about 197,000 tonnes of corn to be sourced optionally from the United States or South America in private, non-tender deals late on Tuesday, European traders said on Wednesday.
The Major Feedmill Group (MFG) bought 69,000 tonnes at $215.97 a tonne c&f for arrival in South Korea around Aug. 17. Trading house Cargill was said to be the seller.
This deal was in addition to another purchase by MFG of 69,000 tonnes bought at $215.87 a tonne c&f for arrival around Aug. 8 in South Korea reported earlier.
The Feed Leaders Committee (FLC) purchased about 68,000 tonnes at $216.50 tonne c&f for Aug. 15 arrival. Dreyfus was said to be the seller.
The Korea Feed Association (KFA) Busan section purchased about 60,000 tonnes at $218.54 a tonne c&f. Trading house CHS was said to be the seller.
All three deals have an extra $1.25 a tonne surcharge for additional port unloading.
"I think some importers decided to take supply cover with continued concern about drought damaging the corn crop in Argentina and fears of sowing problems in Brazil," one European trader said.
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