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South Korea's MFG bought 69,000 tonnes corn on Friday

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By Fawad MaqsoodReuters

HAMBURG: South Korea's Major Feedmill Group (MFG) purchased about 69,000 tonnes of corn in a private deal on Friday without issuing an international tender, European traders said on Monday.

It was purchased at around $189.99 a tonne c&f for arrival in South Korea around Oct. 27. There is an extra $1.25 a tonne surcharge for additional port unloading.

Seller was said to be trading house Cargill.

The MFG had also purchased about 69,000 tonnes of corn in a private deal on Thursday at around $192.90 a tonne c&f for arrival in South Korea around Sept. 20.

Copyright Reuters, 2019

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