South Korea's largest feedmaker Nonghyup Feed Inc. (NOFI) purchased some 68,000 tonnes of corn and 60,000 tonnes of soyameal in an international tender which closed on Thursday, European traders said. The corn was all bought at $216.72 c&f with an extra $1.25 a tonne surcharge for additional port unloading.
The soyameal was all bought at $449.49 a tonne c&f including surcharge for additional port unloading. The yellow corn can be sourced from worldwide origins and was sold by trading house Posco-Daewoo. The corn is for shipment for July 13 to Aug.1 if sourced from the US Pacific North West Coast, between June 28 and July 17 if from the US Gulf/east Europe/South Africa and between June 23 and July 12 if from South America.
Arrival in South Korea will be around August 20. The soyameal will be sourced from South America and was purchased from Bunge, traders said. It is for shipment July 29 to Aug. 17 for arrival in Korea around September 25. The deals continue heavy purchasing of corn and soyameal by South Korean importers in past weeks, partly on concern about drought damaging corn and soyabean crops in Argentina.
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